Macy's CEO Jeff Gennette Will Retire Next Year After 40 Years With the CompanyGennette started at Macy's in 1983 as an executive trainee.
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Jeff Gennette will step down from his position as Macy's CEO in February 2024, the company announced in apress releaseon Wednesday.
"Serving Macy's, Inc. over the past 40 years has been a privilege," Gennette said in the release. He's been at the company in one way or another, almost continuously, since 1983, perThe New York Times.
Tony Spring, previously executive vice president of Macy's as well as chairman and CEO of Bloomingdale's, a subsidiary of Macy's, will now be CEO-elect and president of Macy's.
Gennette famously began at Macy's in the early 1980s as an executive trainee. From there, he took on more authority, including division manager for men's products, and held other executive roles before becoming CEO in 2017, per hiscompany bio.
He said in an interview with theWall Street Journalthat data is key to his approach. "If you are relying on data, are obsessed with customers, and looking at the most granular level of detail then you will make better decisions," he told the outlet.
Gennette led a major reset of the brand while it was facing lower sales and concerns over its ability to be successful in an online retail market, CNBCnoted. He also helped the 164-year-old company get through the pandemic.
Gennette is also notable as one offouropenly gay CEOs of a major U.S. company.
"Macy's is in a really good position," Gennette told the WSJ. "We came through the pandemic financially stronger, more agile and efficient."
