Macy’s chairman to leave Cincinnati-based company

Macy’s chairman to leave Cincinnati-based company

CINCINNATI (FOX19) - Macy's Executive Chairman Terry Lundgren will retire from the board of directors in January, the Cincinnati-based company announced Friday.

The board has appointed Jeff Gennette, who has been CEO since March 2017, to the additional role of Chairman. Lundgren's retirement completes a transition that has been planned since June 2016.

Lundgren released this statement about the news:

"I am proud of our company's growth, accomplishments and the talent we developed during the 14 years I have led Macy's, Inc.," Lundgren said. "I have worked closely with Jeff and his team over the past two years, focusing on the changes and vision required for future success. I am confident that the company has the strategies, resources, talent and leadership to capitalize on the fundamental shifts in consumer shopping patterns we have all experienced. I continue to be impressed with Jeff's leadership, his decisiveness and his engagement with all levels of our outstanding organization. I would also like to thank the 140,000 employees of Macy's, Bloomingdale's and Bluemercury who make up the most talented retail workforce in America! It has been an honor to work with you."

Macy's corporate officers are headquartered in Cincinnati.

Macy's, Inc. operates more than 700 department stores under the nameplates Macy's and Bloomingdale's.

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