TJX shakes up leadership

FRAMINGHAM, Mass — TJX announced that it has moved some of its executives to new roles to better position the company for future growth. Michael MacMillan will assume leadership of the company’s European division as SVP TJX Europe, moving from his current post as head of The Marmaxx Group (the company’s largest division comprised of T.J. Maxx and Marshalls). Richard Sherr will return to The Marmaxx Group as Senior EVP, having most recently held the post of president HomeGoods.

Ernie Herrman continues as TJX president, a title he assumed in February 2011, and will continue to report to Carol Meyrowitz, CEO of The TJX Companies Inc. as will Jeffrey Naylor, senior EVP, chief financial and administrative officer. MacMillan will continue to report to Herrman in his new role as head of TJX Europe. Nan Stutz, senior EVP, group president, will also continue to report to Herrman. Stutz will continue to have responsibility for TJX Canada and HomeGoods. Richard Sherr, in his new role as senior EVP, The Marmaxx Group, will now report to Herrman. Further, senior EVP Jerome Rossi, whose responsibilities include real estate, logistics, procurement and e-commerce, will continue to report to Herrman.

Carol Meyrowitz, CEO of The TJX Companies Inc. stated, “I am extremely confident that these management changes are the right moves at the right time to position TJX to reach our vision of growing to a $40 billion Company. We have a seasoned TJX executive heading each of our four major businesses, The Marmaxx Group, HomeGoods, TJX Canada and TJX Europe, all reporting to Ernie Herrman, our president. Separately and collectively, this team, along with Jeff Naylor and Jerry Rossi, brings amazing talent, knowledge, and the ability to take TJX to our next level of successful growth and beyond.”

MacMillan will replace Paul Sweetenham, who served as senior EVP TJX Europe, since 2007 and has decided to leave the company. MacMillan became president of The Marmaxx group in 2008 and served as head of the group for the past year. Prior to his heading The Marmaxx Group, MacMillan served as president of TJX Canada from 2003 and before that, held the post of EVP merchandising for that division. Having joined T.J. Maxx in 1985, MacMillan has served in progressively senior roles in finance, systems, distribution and merchandising at T.J. Maxx, Winners and Marmaxx. These management changes will be effective for fiscal 2013.

Having joined T.J. Maxx as a buyer in 1992, Sherr has held progressively senior roles at Marmaxx, including Chief Merchant. He held the position of COO at Marmaxx from 2007 until 2010, when he was named president of HomeGoods.

Canestrari is being promoted to president HomeGoods, replacing Sherr in that role. Canestrari has been with The TJX Companies since 1997 and has served in progressively senior roles in finance and operations at The Marmaxx Group and at the corporate level. Most recently, since 2008, Canestrari held the post of COO at HomeGoods, working closely with Sherr. He will report to Nan Stutz, senior EVP, group president.