Macy’s Inc. Announces Plans for CEO Succession for 2024

April 2, 2023  by HFBusiness Staff in Business Strategy, Industry   

Following a rigorous succession planning process that included an internal and external search, Tony Spring (58), Macy’s, Inc. executive vice president and Bloomingdale’s chairman and chief executive officer, has been appointed by the board of directors as Macy’s, Inc. president and CEO-elect, and a member of the board of directors.

As President, Tony will be responsible for leading Macy’s, Inc.’s Digital, Customer, Merchandising, and Brand teams, while overseeing Bloomingdale’s and bluemercury.

As a part of the leadership transition, the company has also announced that Macy’s, Inc. Chief Financial Officer Adrian Mitchell’s (49) responsibilities have been expanded to include the role of chief operating officer. In the combined role, Mitchell will lead the Stores, Technology and Supply Chain teams, in addition to his existing Finance and Real Estate responsibilities.

Gennette will work side-by-side with Spring and Mitchell until February 2024 to ensure a smooth transition.

“Serving Macy’s, Inc. over the past 40 years has been a privilege. I’m proud of the exceptional work of our colleagues to strengthen Macy’s, Inc. by successfully executing our winning Polaris strategy. We’ve done so during profound industry changes and economic challenges,” said Gennette.

“I’m excited that Tony Spring has been appointed Macy’s, Inc.’s president and will become CEO upon my retirement. He has delivered strong results at Bloomingdale’s and has been an ally and trusted partner in advancing Macy’s, Inc.’s strategies.”

“Tony consistently innovates for the customer, is an exceptional brand builder and an excellent talent developer who has strengthened our culture through his leadership. And I’m delighted that Adrian’s role has greatly expanded, leveraging his deep strategic expertise, commitment to omnichannel operational excellence and strong financial discipline. Tony and Adrian are an ideal team to build on our momentum and propel Macy’s, Inc. into the future.”

Spring has been a customer-focused innovator during his 36 years at Bloomingdale’s, known for his exceptional brand-building and merchandising talents. As chairman and chief executive officer of Bloomingdale’s, he has driven the success of the nameplate, which delivered its highest sales volume and record customer engagement in 2022.

He has also repositioned bluemercury into a vibrant and growing nameplate for the company. Spring has served as a key member of the Macy’s, Inc. executive leadership team and has been instrumental in the company’s transformation.

“I am honored to be named president and CEO-elect of Macy’s, Inc. Having worked closely with Jeff throughout our transformation, I see tremendous opportunity to build upon the storied reputation of each of our nameplates. We are further strengthening relationships with our customers through compelling merchandise, partnering with the best brands, and delivering great shopping experiences,” said Spring.

Chief Operating Officer and Chief Financial Officer Adrian Mitchell is a seasoned retail leader, with a diversity of experiences developing growth strategies and creating more effective retail organizations.

Serving as chief financial officer of Macy’s, Inc. since November 2020, he has been integral in the development and execution of the company’s Polaris transformation strategy to drive sustainable and profitable growth.

Prior to joining Macy’s, Inc., Mitchell advised retailers on growth strategies using advanced data and analytics as managing director and partner in the Digital and Consumer Practices of Boston Consulting Group. He also served as CEO to home furnishings retailer Arhaus LLC and held several executive positions at Crate and Barrel.

“I am excited to take on this new role to ensure that we further strengthen the disciplines that are modernizing Macy’s, Inc.,” said Mitchell. “Together with Tony and the entire Macy’s, Inc. team, we will continue to invest and enhance our capabilities to modernize our infrastructure to deliver highly interactive, personalized, and relevant omnichannel shopping experiences for a broader range of customers.”