Macy's Taps Insider Tony Spring As Next CEO; Jeff Gennette Plans To Retire In February 2024

  • Macy's Inc M Chairman and Chief Executive Officer Jeff Gennette plans to retire in February 2024 after serving the company for 40 years.
  • Following a succession planning process that included an internal and external search, the company has appointed its executive vice president and Bloomingdale's chairman and CEO, Tony Spring as its president and CEO-elect.
  • Tony Spring will also become a member of the board of directors.
  • Also ReadThis Analyst Sees Macy's As Emerging On Solid Financial Footing Amid Volatile Macro Environment
  • As President, Tony Spring will be responsible for leading Macy's Digital, Customer, Merchandising, and Brand teams, while overseeing Bloomingdale's and bluemercury.
  • The company has also announced that its CFO Adrian Mitchell's responsibilities have been expanded to include the role of chief operating officer. 
  • Price Action: M shares are trading lower by 0.87% at $17.12 in premarket on the last check Wednesday.
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