Macy’s executive chairman Terry Lundgren is set to retire from the company’s board on Jan. 31.
Lundgren will be replaced by Jeff Gennette—who also succeeded him as CEO—on that date.
Lundgren, who stepped down as CEO in March said in a statement that he was proud of the company’s accomplishments during his 14 years at the helm. “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,” Lundgren said. He also gave a vote of confidence to Gennette. “I continue to be impressed with Jeff’s leadership, his decisiveness and his engagement with all levels of our outstanding organization.”
Read more at Sourcing Journal.