Macy’s Tony Spring commences CEO role

Macy’s, Inc. announced on Friday that Tony Spring will serve as chief executive officer of the company, effective February 4. He succeeds Jeff Gennette, who announced in March plans to retire from the U.S. retailer.

Gennette will continue as chair of the board until the company’s 2024 annual meeting, with Spring becoming board chair as of the annual meeting.

A member of the Macy’s, Inc. executive leadership team, Spring has served for the past year as president and chief executive officer-elect, leading Macy’s, Inc.’s digital, customer, merchandising, and brand teams, and also overseeing Bloomingdale’s and Bluemercury.

During his 36-year tenure at Bloomingdale’s, Spring has been known for his customer-centric, brand-building and merchandising talents. As chairman and chief executive officer of Bloomingdale’s, he drove the success of the nameplate, which delivered its highest sales volume and record customer engagement in 2022.

He also repositioned Bluemercury into a vibrant and growing nameplate for the company. Spring also serves as a member of the executive committee of the National Retail Federation and the board chair for the National Retail Federation Foundation. He also serves on the board of directors of the Juvenile Diabetes Research Foundation (JDRF) – Greater New York City Chapter, and the Hospital for Special Surgery Advisory Board.

“Tony is the ideal CEO to build on our momentum and lead Macy’s, Inc. into the future. He has only added to his many contributions in advancing the company’s strategies over the past year as president and CEO-elect, after having delivered strong results during his tenure leading Bloomingdale’s and overseeing Bluemercury. In addition to building brands and consistently innovating for the customer, Tony has strengthened our culture through his leadership and is committed to talent development,” said Gennette.

“It’s been a privilege to serve Macy’s, Inc. over the past 40 years and I’m proud of the exceptional work of our colleagues in serving our customers and continuing to strengthen the company’s operational and financial foundation. I look forward to continuing to work alongside Tony and our other fellow directors in the coming months in my role as chair of the board.”

The CEO transition comes at an interesting time for the New York-based department store operator. Last week, Macy’s rejected a $5.8 billion takeover offer from the investment firm and Brigade Capital Management, saying it lacked “compelling value.” The Macy’s board was also concerned that the bidders couldn’t finance a deal of that size.