ERNIE HERRMAN TO BECOME CEO OF TJX COMPANIES IN JANUARY

Off-price retailer TJX Companies has announced Ernie Herrman will become CEO effective January 31, 2016. Herrman will also retain his current title as President of TJX, which he has held since January 2011. The company owns numerous companies, including Marshalls, TJ Maxx, Sierra Trading Post, HomeGoods, and other companies.

Carol Meyrowitz, the company’s current chairman and CEO, will become executive chairman of the board as of Herrman’s transition into his new position. “Ernie Herrman’s proven, successful track record, leadership abilities, strategic vision, discipline and focus are all qualities that make him absolutely the right choice for CEO,” said Meyrowitz in a statement. Ernie has decades of experience as an off-price merchant. He has been instrumental to our company’s success, including our continued international growth with our expansion into continental Europe, bringing Marshalls to Canada, and intent to acquire Trade Secret in Australia, in addition to developing our deep bench of off-price leaders and senior management. He will be a tremendous leader as we continue to drive the profitable growth of this company in the near and long term.”

Herrman commented, “I am truly honored by the opportunity to lead TJX forward. TJX is a world-class retailer, with a long track record of success and enormous global growth potential. I am convinced that we are in an excellent position to grow to be a $40 billion company and beyond. The succession plan that the Board has established gives me great confidence that we will have a seamless transition.”