Macy's, Inc. Announces Senior Executive Appointments to Develop and Drive New Growth Strategies

CINCINNATI--(BUSINESS WIRE)--Feb. 3, 2015-- Macy's, Inc. (NYSE:M) today announced a series of new senior executive appointments as the company continues to deepen its focus on driving profitable sales growth as a leading omnichannel retailer and innovator.

These moves, in conjunction with restructured omnichannel capabilities announced on Jan. 8, 2015, fully align the company's management and organization in key functions – such as merchandising, merchandise planning, marketing and technology – to drive internal growth. Moreover, the company is applying talent and resources to develop new types of growth opportunities.

(Editor's Note: Macy's, Inc. this afternoon also issued separate news releases on preliminary 2014 financial results and announcing an agreement to acquire Bluemercury, Inc.)

"Macy's, Inc. has developed into a very powerful growth story with significant opportunity still ahead. We have profitably grown total sales by more than $5 billion over the past five years with a slight decline in the number of stores. Our company benefits from extraordinary and deep talent at all levels, and we are creating new opportunities for well-rounded and experienced executives who understand the value of placing the customer at the center of all decisions as shopping patterns evolve," said Terry J. Lundgren, Macy's, Inc. chairman and chief executive officer. "These management assignments allow some of our most senior people to apply their expertise in new directions and to take our company to the next level of success."

All changes were effective January 31, 2015.

Jeff Gennette, president of Macy's, Inc., will concentrate more of his time on facilitating broader growth strategies within Macy's existing omnichannel businesses to attract new shoppers to Macy's unparalleled offering of market and private brands, and to strengthen customer relationships, consistent with Macy's single view of the business across stores, online and mobile. Going forward, Gennette will oversee Macy's merchandise planning, as well as maintain oversight responsibility for merchandising and marketing of Macy's stores and digital, and private brand product development. He continues to report to Lundgren. In broadening his purview, Gennette has relinquished his day-to-day responsibilities as Macy's chief merchandising officer.

Among Gennette's direct reports:

Timothy G. Baxter, previously Macy's executive vice president and general merchandise manager for ready-to-wear, has been promoted to succeed Gennette as Macy's Chief Merchandising Officer.
Molly Langenstein, previously executive vice president for men's and kids private brands, has been promoted to Macy's Chief Private Brands Officer, succeeding Tim Adams (see below).
Patti H. Ongman, previously executive vice president for omnichannel strategies, has been promoted to Macy's Chief Merchandise Planning Officer, succeeding Julie Greiner, who will retire later this year (see below).
Martine Reardon continues in her role as Chief Marketing Officer, now with responsibility for all Macy's omnichannel market presence and strategy, including brand, promotional, store, digital and events marketing activity, as well as customer analytics.
Peter Sachse, Macy's chief stores officer since 2012, has moved to a new role as Macy's Chief for Innovation and Business Development. He will continue to report to Lundgren. In this capacity, Sachse will oversee current and future growth initiatives, including international development, exploration of a Macy's off-price strategy, potential new store formats, expansion of the company's offering for wedding-related occasions and gifting, and application of technology to the shopping experience. Sachse will draw on his deep experience in senior leadership roles in stores, ecommerce, marketing and merchandising over the course of his career at Macy's.

Among those now reporting to Sachse are:

Tim M. Adams, previously Chief Private Brands Officer, who will focus more time and attention to his ongoing duties studying international development opportunities for Macy's and Bloomingdale's with a new title of Chief for International Business Development.
Kent Anderson, who has served as President of macys.com since 1998, will assume a new role as President for Innovation.
Jeff Kantor, previously chairman of macys.com, has become Macy's Chief Stores Officer, reporting to Lundgren. Kantor will oversee all aspects of stores strategy, management and operations, including the field stores organization of regions, districts and stores with responsibility for localizing the customer shopping experience and customer engagement. Kantor also is responsible for store visual merchandising, store design and construction, and real estate.

R.B. Harrison continues in his role as Macy's, Inc. Chief Omnichannel Officer with responsibility for coordinating omnichannel retailing strategies, as well as oversight of systems, technology, logistics, fulfillment and distribution for Macy's and Bloomingdale's. Going forward, he will assume responsibility for the technology infrastructure, programming, site development and analytics for macys.com and bloomingdales.com – bringing together all of the company's technology capabilities under a single executive officer. He continues to report to Lundgren.

Julie Greiner Retirement

Julie Greiner, Macy's Chief Merchandise Planning Officer since 2009, will retire from the company in August 2015 after a distinguished 40-year career with Macy's, Inc. and its predecessor companies. Until August, she will remain on the Executive Committee to assist in the transition in Merchandise Planning and lead special merchandising projects with Gennette.

"Julie Greiner has been a key driver of Macy's strategies for localization, assortment planning and inventory allocation over the past six years, as well as a strong voice in all strategy decisions," Lundgren said. "Throughout her career, including as chairman and CEO of the Macy's Florida division and in various senior roles at Bloomingdale's, Julie has proven herself to be an inspirational leader with a high level of integrity and an insightful, intelligent viewpoint on how best to serve customers. We are delighted that Julie will remain on board and continue to contribute to our success in the coming months."

Ongoing Macy's, Inc. Roles

William S. Allen continues in his role as Macy's, Inc. Chief Human Resources Officer, with responsibility for all human resources functions, corporate communications and aviation, as well as administrative responsibility for law functions. He continues to report to Lundgren.

Karen M. Hoguet continues as Macy's, Inc. Chief Financial Officer with responsibility for all finance, control and treasury functions; credit and customer services; enterprise risk management; and sustainability, as well as administrative responsibility for internal audit. She continues to report to Lundgren.

Tony Spring remains chairman and chief executive officer of Bloomingdale's with responsibility for all facets of the Bloomingdale's brand, including merchandising, marketing, operations, stores and online. He continues to report to Lundgren.

Executive Bios

Tim Adams, 61, has been Macy's chief private brands officer since February 2009 and previously served as chairman and CEO of Macy's Home Store since July 2005. From 2001 to 2005, he was chairman of the Macy's Florida division. For the previous three years, he was president of The Bon Marché in Seattle. Adams began his retail career at Macy's in Atlanta in 1976. In 1989, he joined Macy's West in San Francisco as a merchandise administrator and rose to become EVP/general merchandise manager in 1994. A native of Atlanta, Adams holds a degree from the University of Georgia. He lives in the New York City area.

Kent Anderson, 60, has served as president of macys.com since its inception in 1998. Previously, he was senior vice president and chief financial officer of Macy's West since 1995. Anderson began his retail career in 1978 at Dayton Hudson Corporation and joined Macy's in 1983 at the Macy's Kansas City division and served in roles of increasing responsibility. A native of Denver, Anderson is a graduate of Colorado State University and lives in the San Francisco Bay area.

Bill Allen, 57, was named Macy's, Inc. chief human resources officer in February 2013. Previously, he was senior vice president for global human resources at AP Moller-Maersk A/S, a large and diverse company with interests in transportation and energy businesses based in Copenhagen, Denmark. He joined that company in 2003 as senior vice president for human resources and communications in New Jersey before moving to Copenhagen in a global role in 2006. Previously, he served in senior-level human resources roles at Atlas Air Worldwide Holdings and at the Pizza Hut and Frito-Lay divisions of PepsiCo. Allen began his career at RCA Corporation. A native of Scotch Plains, NJ, he holds a bachelor's degree from Auburn University and a master's degree from the University of North Texas. He lives in the New York City area.

Tim Baxter, 45, has served as Macy's executive vice president and general merchandise manager for ready-to-wear since April 2013. For more than 23 years, he has served in a variety of merchant roles for Macy's and The May Department Stores Company (acquired by Macy's, Inc. in 2005). Baxter began his career as an executive trainee and assistant buyer at L.S. Ayres in Indianapolis in 1991 and has served in roles of increasing responsibility in a wide range of merchandising categories. He led Macy's fashion office, multicultural business development and licensed business from March 2012 to April 2013. Baxter, a native of Toledo, Ohio, graduated from Miami University (Ohio). He lives in the New York City area.

Jeff Gennette, 53, was named president of Macy's, Inc. in March 2014 after serving as Macy's chief merchandising officer since February 2009. Previously, he served as chairman and CEO of Macy's West since February 2008 after serving as chairman of Macy's Northwest in Seattle and executive vice president and director of stores for Macy's Central in Atlanta. Prior to that, Gennette was SVP/general merchandise manager at Macy's West. Gennette joined Macy's West in 1983 as an executive trainee and also has served with FAO Schwarz and Broadway stores. A native of San Diego, Gennette lives in the New York City area. He is a graduate of Stanford University.

Julie Greiner, 61, has been Macy's chief merchandise planning officer since February 2009. Previously, she was chairman and CEO of Macy's Florida since July 2005. Greiner served as senior executive vice president of the company's Bloomingdale's division and was its director of stores from 1998 to 2005. Greiner began her retailing career in 1975 at J. W. Robinson's in Los Angeles and rose through positions of increasing responsibility in the merchandising and stores organizations. She joined Bloomingdale's in October 1993. Greiner, a native of southern California, holds a degree from California State University, Fullerton. She lives in the New York City area.

R.B. Harrison, 51, has served as Macy's chief omnichannel officer since February 2013 and executive vice president for omnichannel strategy since July 2012, having previously been executive vice president for finance since 2011, president for stores since 2009 and president and chief operating officer of Macy's West since 2008. Harrison became president and chief operating officer of Macy's Northwest in February 2006 following Macy's, Inc.'s acquisition of May Company. Previously, he had been chairman of Robinsons-May since October 2004, having served as the division's senior vice president and chief financial officer since June 2002, as well as the senior vice president for finance of the Meier & Frank division before it was merged with Robinsons-May. A native of Pittsburgh, Harrison began his career at the Kaufmann's division in 1986 as an accounting analyst and served in positions of increasing responsibility before becoming vice president and controller of Kaufmann's. Harrison holds a bachelor's degree from Pennsylvania State University and an MBA from the University of Pittsburgh. He lives in the New York City area.

Karen Hoguet, 58, has served as Macy's, Inc.'s chief financial officer since 1997. Upon joining the company in 1982 from the Boston Consulting Group in Chicago, she served as a senior consultant in marketing and long-range planning from 1982 to 1985 before being named director of capital and business planning. Hoguet was named operating vice president of planning and financial analysis in 1987, elected a corporate vice president in 1988 and as senior vice president of planning in 1991. She added the title of corporate treasurer a year later, and subsequently assumed responsibility for tax, accounting and other financial functions. A native of Cincinnati and a Phi Beta Kappa graduate of Brown University, Hoguet received an MBA from Harvard University. She lives in Cincinnati.

Jeff Kantor, 55, was named chairman of macys.com in February 2012 after serving as macys.com's president for merchandising since August 2010. Previously he was Macy's president-merchandising for home since May 2009. From February 2006 to May 2009, Kantor was president for furniture for Macy's Home Store. For the previous two years, Kantor was president of the Hecht's/Strawbridge's division of The May Department Stores Company, which was acquired by Macy's, Inc. in 2005. He also served as senior vice president and general merchandise manager for cosmetics, accessories, dresses, suits, intimate apparel and hosiery at the Boston-based Filene's/Kaufmann's division of May Company. A native of Belmont, MA, Kantor joined Filene's in Boston in 1981 as an assistant buyer for men's. He is a graduate of the University of Massachusetts-Amherst and lives in the New York City area.

Molly Langenstein, 51, has served as executive vice president for men's and kids at Macy's Private Brands since April 2014. Previously, she was Macy's executive vice president for fashion and new business development and general merchandise manager for categories appealing to customers in the Millennial generation. Her 30-year merchandising career has included assignments as general merchandise manager for men's and kids at Macy's Florida (Miami), for Millennial at Macy's West (San Francisco), and for ready-to-wear at Macy's North (Minneapolis) since joining Miami-based Burdines in 1985. Langenstein also served briefly as a merchandising executive at May D&F. A native of Ohio, Langenstein holds a degree from Kent State University and lives in the New York City area.

Patti Ongman, 58, was named executive vice president for omnichannel strategy in June 2014 after more than three years as executive vice president and general merchandise manager for handbags, accessories and intimate apparel and two years as executive vice president and general planning manager for cosmetics and shoes. Ongman joined Macy's in 1979 as a sales manager at Davison's in Atlanta and has served in a wide variety of roles across multiple families of business, including as a general merchandise manager for ready-to-wear at Macy's West and Macy's Northwest, regional vice president at Macy's Home Store and store manager at Macy's West. Ongman holds a degree from the University of Alabama.

Martine Reardon, 52, was named Macy's chief marketing officer in February 2009 after serving as executive vice president for marketing since February 2009. Previously, Reardon served since 2007 as executive vice president, national marketing strategy, events and public relations for Macy's Corporate Marketing. Prior positions included senior vice president for marketing and sales promotion at New York-based Macy's East. Following the merger of Federated Department Stores and R.H. Macy & Co. in 1994, she was named vice president of media overseeing the Macy's/Federated marketing effort. Reardon began her retail career in special events at Federated's Abraham & Straus division in Brooklyn in 1984. A native of New York City, Reardon lives in the New York City area. She holds a degree from St. Francis College in Brooklyn.

Peter Sachse, 56, was named Macy's chief stores officer in February 2012. He previously was Macy's chief marketing officer since February 2009, along with serving as chairman and CEO of macys.com since April 2006. He was president of Macy's Corporate Marketing from 2003 to 2006. Prior to serving in these roles, Sachse was president and chief operating officer of The Bon Marché in Seattle. He began his retail career with Macy's in Kansas City and was a division merchandise manager at Macy's/Bullock's in Atlanta. He was also executive vice president/general merchandise manager at Macy's East and was later promoted to vice chair/director of stores of Macy's East. A native of Sheboygan, WI, Sachse lives in the New York City area. He holds a degree from the University of Wisconsin.

Tony Spring, 49, was promoted to Bloomingdale's chairman and CEO in October 2013 after serving as president and chief operating officer since 2008. He began his Bloomingdale's career in 1987 as an executive trainee in the White Plains, NY, store. Since that time, he rose through the ranks in positions with responsibility for home furnishings merchandising, marketing, direct-to-consumer and restaurants before being promoted to senior executive vice president and director of stores, with additional responsibility for Bloomingdale's shopping services and creative services. Spring, a native New Yorker, holds a degree from Cornell University. He lives in the New York City area.

Macy's, Inc., with corporate offices in Cincinnati and New York, is one of the nation's premier retailers, with fiscal 2013 sales of $27.931 billion. The company operates about 825 stores in 45 states, the District of Columbia, Guam and Puerto Rico under the names of Macy's and Bloomingdale's, as well as the macys.com and bloomingdales.com websites. The company also operates 13 Bloomingdale's Outlet stores. Bloomingdale's in Dubai is operated by Al Tayer Group LLC under a license agreement.

All statements in this press release that are not statements of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon the current beliefs and expectations of Macy's management and are subject to significant risks and uncertainties. Actual results could differ materially from those expressed in or implied by the forward-looking statements contained in this release because of a variety of factors, including conditions to, or changes in the timing of, proposed transactions, prevailing interest rates and non-recurring charges, competitive pressures from specialty stores, general merchandise stores, off-price and discount stores, manufacturers' outlets, the Internet, mail-order catalogs and television shopping and general consumer spending levels, including the impact of the availability and level of consumer debt, the effect of weather and other factors identified in documents filed by the company with the Securities and Exchange Commission.

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