After 40 years with the company, Macy’s chairman and CEO Jeff Gennette has announced plans to retire in February 2024, in a move that will trigger a succession plan that will make Tony Spring, now executive vice president and Bloomingdale’s chairman and CEO, Macy’s president and CEO-elect.
As president, Spring (pictured above right) will lead Macy’s digital, customer, merchandising, and brand teams, while continuing to oversee Bloomingdale’s and Bluemercury.
Macy’s also announced that it will expand the responsibilities of CFO Adrian Mitchell to include the chief operating officer role. So, going forward, Mitchell will lead the stores, technology and supply chain teams, in addition to fulfilling his existing finance and real estate responsibilities. Gennette (pictured above left) will work with Spring and Mitchell until February 2024 to ensure a smooth transition, Macy’s stated.
Spring has been a customer-focused innovator during his 36 years at Bloomingdale’s, Macy’s maintained, known for his exceptional brand-building and merchandising talents. As Bloomingdale’s chairman and CEO, he has driven the success of the nameplate, which, in 2022, delivered its highest sales volume and record customer engagement, Macy’s added. He has repositioned Bluemercury and established a vibrant and growing nameplate for the company and served as a key member of Macy’s executive leadership team, the company noted.
Mitchell has served as Macy’s CFO since November 2020 and has been integral in the development and execution of the company’s Polaris transformation strategy designed to drive sustainable and profitable growth, the company indicated. Prior to joining Macy’s, Mitchell advised retailers on growth strategies using advanced data and analytics as managing director and partner in the Boston Consulting Group Digital and Consumer Practices. He also served as CEO of home furnishings retailer Arhaus LLC and held several executive positions at Crate & Barrel, Macy’s pointed out.
In announcing the succession plans, Gennette said, “Serving Macy’s, Inc. over the past 40 years has been a privilege. I’m proud of the exceptional work of our colleagues to strengthen Macy’s, Inc. by successfully executing our winning Polaris strategy. We’ve done so during profound industry changes and economic challenges. I’m excited that Tony Spring has been appointed Macy’s, Inc.’s president and will become CEO upon my retirement. He has delivered strong results at Bloomingdale’s and has been an ally and trusted partner in advancing Macy’s, Inc.’s strategies. Tony consistently innovates for the customer, is an exceptional brand builder and an excellent talent developer who has strengthened our culture through his leadership. And I’m delighted that Adrian’s role has greatly expanded, leveraging his deep strategic expertise, commitment to omnichannel operational excellence and strong financial discipline. Tony and Adrian are an ideal team to build on our momentum and propel Macy’s, Inc. into the future.”