As 41-year Career Exec Retires, Macy's Announces Leadership Changes

— January 29, 2013

Thomas L. Cole is retiring as Macy's, Inc.'s chief administrative officer after a 41-year career with the retailer and its predecessor companies. In order to achieve a seamless transition, Cole will remain with Macy's through May 2013. His responsibilities have been redistributed as follows:

William S. Allen has joined Macy's, effective immediately, as chief human resources officer. Allen, a seasoned corporate human resources executive who previously served as senior vice president of AP Moller-Maersk A/S, joins the Macy's executive committee and reports to Terry J. Lundgren, chairman, president and chief executive officer. Allen will oversee Macy's, Inc.'s human resources, diversity strategies, and corporate communications and external affairs functions. In addition, Allen will have administrative responsibility for the law function that reports directly to Lundgren.

Robert B. Harrison, previously Macy's executive vice president for omnichannel strategy, is assuming the newly created role of chief omnichannel officer, reporting to Lundgren. He also will join the company's executive committee. In addition to his existing role managing the development of strategies to closely integrate the company's stores, online and mobile activities, Harrison will assume responsibility for systems and technology, logistics and related operating functions.

Karen M. 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. In addition, she will have administrative responsibility for the internal audit function that reports directly to Lundgren. Hoguet is a member of the Macy's executive committee and reports to Lundgren.

Peter Sachse, Macy's chief stores officer, will assume additional responsibility for store planning, design and construction. The company's nationwide portfolio of Macy's stores, as well as the region, district and central stores organization and visual merchandising, continue to report to Sachse. He is a member of the Macy's executive committee and reports to Lundgren.

"Our company remains on a path of continuous improvement and growth, and the foundation of our success is the strength of talent at every level of our organization," Lundgren said. "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.

"Our company and I owe a great debt of gratitude for the skill and leadership of Tom Cole in guiding the company's operations and key corporate functions 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. Tom played a key role in these subjects and many, many more. While we wish Tom continued health and happiness in the next chapter of his life, I am confident in knowing that ours is a better and stronger company today because of his exceptional work over the past four decades," Lundgren said.

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