Macy's restructures to support growth

Macy's (NYSE:M) is making some key executive changes and creating new positions to support omnichannel growth. 

     Peter Sachse

Peter Sachse has taken the new role of chief growth officer and will oversee all Macy's merchandising, Macy's Backstage, Bluemercury and international expansion—all areas the retailer has identified as key growth properties.

Sachse previously served as chief innovation and business development officer. He will now report directly to Macy's President, Jeff Gennette. Among Sachse's direct reports will be Tim Baxter, chief merchandising officer, who leads Macy's omnichannel initiatives.

Also reporting to Sachse will be Bluemercury's CEO Marla Malcolm Beck and COO Barry Beck, as well as Vanessa Lefebvre, senior VP for Macy's Backstage, and Dustin Jones, newly appointed managing director of Macy's China Limited.

Justin MacFarlane

Justin MacFarlane is joining Macy's in the new position of chief strategy, analytics and innovation officer, reporting to Gennette. He will be responsible for Macy's strategic development, consumer and customer research, data analysis, innovation and the development of future new business opportunities.

MacFarlane will also be a member of the company's executive committee. He was previously senior VP for corporate strategy at Ann Inc.

"These two new positions will enable us to move farther and faster in stimulating profitable sales growth in our company," said Terry Lundgren, chairman and CEO. "Each role is critical to our ability to position the company's brands for success in a consumer marketplace that continues to evolve in profound new directions for omnichannel retailing."  

Macy's is struggling to reach younger shoppers and grow online operations. The company will close 40 stores this year and focus on its new Backstage off-price format.

For more:
-See this Macy's announcement

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