Well, let’s just say it’s probably not possible that Jeff Gennette will sink Macy’s, Inc. like Ron Johnson did when he took over JCPenney. Gennette has been the president of the embattled department store for the past two years, and has served the company in some sort of executive capacity since 2006. Here’s what Gennette needs to think about if he’s going to get Macy’s, Inc’s not just to regain its leadership position, but keep its stores from the retail graveyard.
Terry J. Lundgren, Macy’s Inc.’s CEO since 2003 and Chairman since 2004, will transition the position of CEO to Jeff Gennette in the first quarter of 2017. Gennette will join the Macy’s, Inc. board of directors, effective today – bringing the size of the board to 14 members. He will assume additional management responsibility during the transition period, including oversight of the Macy’s stores organization.