Macy’s CEO Jeff Gennette will retire early next year after a four-decade career at the company, the department store chain announced Wednesday morning.
Gennette, 61, plans to step down in February. He will be succeeded by Tony Spring, CEO of the company’s higher-end department store banner, Bloomingdale’s.
In addition to the CEO change, Macy’s Chief Financial Officer Adrian Mitchell, 49, will take on an expanded role and also serve as the company’s chief operating officer. He will lead store operations, technology and supply chain teams, along with his existing role over finance and real estate.CNBC