Jeffrey Gennette, who has served for the past five years as Macy’s chief merchandising officer, has been elected president, effective immediately.
He will report to Terry J. Lundgren, Macy’s chairman and chief executive officer. Reuters predicted Tuesday that the promotion was a possible succession move, positioning the company veteran to eventually become chief executive.
In his new role, Gennette will retain day-to-day responsibility for Macy’s merchandising functions and take on oversight of marketing and Macys.com as well as Macy’s Private Brands organization.
“Jeff Gennette is an outstanding merchant who has proven to be an insightful strategist and strong leader in our company,” says Lundgren. “As our president, with the additional responsibility for Macy’s private brands, Gennette will have a total view of Macy’s merchandise assortment and marketing strategy–both in stores and online–consistent with our omni-channel vision. Our exclusive private brands, which have provided a powerful competitive advantage for Macy’s, will continue to play a vitally important role in delivering fashion, quality and value to our customers.”
Gennette has been Macy’s chief merchandising officer since 2009. He served as chairman and chief executive officer of Macy’s West for the previous year, and was chairman and chief executive officer of Macy's Northwest in Seattle from 2005 to 2008. Before that, Gennette was executive vice president and director of stores for Macy's Central in Atlanta and senior vice president/general merchandise manager at Macy's West. Gennette joined Macy’s West in 1983 as an executive trainee and held various merchant and store management positions in that division. During his career, Gennette also has served as a store manager for FAO Schwarz and director of stores for Broadway Stores.