Macy’s says Tony Spring was named as a successor to Jeff Gennette after an internal and external search
on Wednesday said its Chief Executive Officer Jeff Gennette will retire in February, after serving the U.S. department store chain for 40 years and will be succeeded by insider Tony Spring.
Gennette, 61, was credited with turning the business around with the Polaris Strategy, a three-year plan which was introduced to accelerate its digital business and ensure a profitable growth at a time when department stores were facing sagging sales due to increasing online competition. Gennette, who has been the head of the company since 2017, spear headed it during the COVID-19 pandemic when Macy’s expedited shipments and ordered products earlier, while other retailers in the United States grappled with product shortages to meet the seasonal demand.
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