After serving the company for 40 years, Macy's announced on Wednesday that CEO Jeff Gennette will retire in February 2024.
Gennette, 61, will be replaced by Tony Spring, the current chief executive of Macy's-owned Bloomingdale's.
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 have done so during the toughest industry changes and economic challenges. Spring, 58, who has spent 36 years at Bloomingdale s, will assume the role of Macy's president and will be responsible for the company's digital, customer, merchandising and brand teams, and will oversee Bloomingdale's and Bluemercury.
Spring said in a statement, "Having worked closely with Jeff throughout our transformation, I see tremendous opportunity to build upon the storied reputation of each of our nameplates. We are partnering with the best brands and delivering great shopping experiences to strengthen relationships with our customers. On Wednesday, Macy's also announced that current Chief Financial Officer Adrian Mitchell will be able to include the responsibilities of the Chief Operating Officer.
Gennette will work side-by-side with Spring and Mitchell until February 2024, the company said.