by Stephen Garner
Paula Price

Macy’s, Inc. has announced that Paula Price, executive vice president and chief financial officer, has made the decision to leave the company as of May 31, 2020. She will continue in her current role until that date, and in order to support a well-ordered transition, Price will remain an advisor to the company through November 2020. An external search is underway for Price’s replacement.

“I want to thank Paula for her leadership and contribution to Macy’s, Inc. She has built a strong finance leadership team, and we are fortunate to have a very deep bench to draw on to ensure a smooth transition,” said Jeff Gennette, chairman and chief executive officer of Macy’s, Inc. “We will continue to take all necessary actions to ensure that Macy’s, Inc. emerges from this pandemic on solid footing and ready to serve our customers. Paula remains a critical part of our plan, and while I respect her decision, I also appreciate the long runway she is giving us for this transition.”

Price joined Macy’s, Inc. in July 2018 as the chief financial officer. She was tasked with leading the company’s finance, accounting, investor relations, and internal audit functions. Price has over 30 years of finance experience in retail and consumer-facing businesses. Prior to joining Macy’s, Inc., she was a full-time senior lecturer at Harvard Business School.

Price’s prior roles include executive vice president, chief financial officer of Ahold USA, and senior vice president, controller, and chief accounting officer of CVS Caremark Corporation. At Ahold, Price was responsible for finance, accounting and shared services; strategy and planning; real estate development and construction; not-for-resale sourcing; and information technology. Price spent her early career at JPMorgan Chase, Diageo, Kraft, and Sears.