Macy's Makes Management Changes?
January 29, 2013,
CINCINNATI-Thomas Cole is retiring as Macy's chief administrative officer, the company announced, triggering a number of changes in the retailer's executive ranks.
Peter Sachse, Macy's chief stores officer, will assume additional responsibility for store planning, design and construction. All Macy's stores, as well as the region, district and central stores organization and visual merchandising, continue to report to Sachse, who reports to Terry Lundgren, chairman, president and CEO.
Karen Hoguet, Macy's Inc. chief financial officer, will assume additional responsibility for credit and customer services, real estate, non-merchandise purchasing and sustainability. All of the company's finance and accounting functions report to Hoguet, who reports to Lundgren.
William Allen has joined Macy's as chief human resources officer. Allen, who previously served as senior vice president of AP Moller-Maersk A/S, will oversee Macy's Inc. human resources, diversity strategies, and corporate communications and external affairs functions, and reports to Lundgren.
"These adjustments to our senior leadership team provide continuity and strengthen our ability to innovate as we work to maximize results in the years ahead from our core business strategies, including My Macy's localization, omnichannel alignment, and customer engagement," Lundgren said in a statement.
Lundgren also praised Cole, who is retiring after 41 years with the company, for his leadership in helping to guide the company through "periods of unprecedented change.
"Tom's influence has been particularly profound over the past seven years as we integrated the acquisition of The May Department Stores Company, migrated to the nationwide Macy's brand, developed new business and organization structures, aggressively pursued our omnichannel vision and improved our customer shopping experience," Lundgren said.