NEW YORK–(BUSINESS WIRE)–Macy’s, Inc. (NYSE: M) today announced that, in connection with its leadership succession plan announced on March 29, 2023, Tony Spring (58) will serve as chief executive officer of the company, effective February 4, 2024. Spring succeeds Jeff Gennette (62), who is retiring as chief executive officer after serving the company for 40 years. Gennette will continue as chair of the board until the company’s 2024 Annual Meeting, with Spring becoming board chair as of the Annual Meeting.
“Tony is the ideal CEO to build on our momentum and lead Macy’s, Inc. into the future. He has only added to his many contributions in advancing the company’s strategies over the past year as president and CEO-elect, after having delivered strong results during his tenure leading Bloomingdale’s and overseeing Bluemercury. In addition to building brands and consistently innovating for the customer, Tony has strengthened our culture through his leadership and is committed to talent development,” said Gennette. “It’s been a privilege to serve Macy’s, Inc. over the past 40 years and I’m proud of the exceptional work of our colleagues in serving our customers and continuing to strengthen the company’s operational and financial foundation. I look forward to continuing to work alongside Tony and our other fellow directors in the coming months in my role as chair of the board.”
Spring commented, “I am excited to take on the role of CEO of Macy’s, Inc. and to apply my over three decades of experience with our nameplates to build on this strong foundation and lead our company forward. Alongside the Macy’s, Inc. leadership team, we will remain focused on driving innovation, fostering profitable sales growth and delivering value for our shareholders, while strengthening our position as our customers’ trusted source for quality brands.”
Paul C. Varga, lead independent director of the Macy’s, Inc. board of directors, said, “Tony is a proven, results-oriented leader and we are confident he will lead Macy’s, Inc into its next phase of growth and deliver value for shareholders. Additionally, on behalf of the board, I want to thank Jeff for his unwavering leadership over many decades to Macy’s, Inc. We look forward to continuing to benefit from Jeff’s ongoing contributions and leadership through the duration of his tenure as chair of the board.”
About Tony Spring
A key member of the Macy’s, Inc. executive leadership team, Spring has been instrumental in the company’s transformation. Spring served for the past year as president and chief executive officer-elect, leading Macy’s, Inc.’s digital, customer, merchandising, and brand teams, and also overseeing Bloomingdale’s and Bluemercury.
During his 36 years at Bloomingdale’s, Spring was a customer-focused innovator known for his exceptional brand-building and merchandising talents. As chairman and chief executive officer of Bloomingdale’s, he drove the success of the nameplate, which delivered its highest sales volume and record customer engagement in 2022. He also repositioned Bluemercury into a vibrant and growing nameplate for the company. Spring is highly respected among the community of retail leaders and serves as a member of the Executive Committee of the National Retail Federation and the board chair for the National Retail Federation Foundation. He also serves on the board of directors of the Juvenile Diabetes Research Foundation (JDRF) – Greater New York City Chapter, and the Hospital for Special Surgery Advisory Board.
About Macy’s, Inc.
At Macy’s, Inc. (NYSE: M), we are a trusted source for quality brands at great values from off-price to luxury. Across our iconic nameplates, including Macy’s, Bloomingdale’s and Bluemercury, we help our customers express their unique style and celebrate special moments, big and small. Headquartered in New York City, we operate one of retail’s largest e-commerce businesses integrated with a nationwide footprint to deliver the most convenient and seamless shopping experience. Our purpose is to create a brighter future with bold representation – so we can realize the full potential of every one of us. For more information, visit macysinc.com.
