MACY’S HIRES REAL ESTATE EXPERT DOUGLAS SESLER AS NEW EXECUTIVE

Douglas W. Sesler, a recognized leader in real estate investments, restructurings, strategic transactions and portfolio management, will be joining Macy’s, Inc. as executive vice president for real estate, effective today.

Sesler will oversee the company’s real estate function and lead high-priority initiatives to increase shareholder value through real estate strategies, including creating potential joint ventures or other partnerships involving the company flagship locations and mall-based properties. He will report directly to Terry J. Lundgren, Macy’s chairman and chief executive, and work closely with Macy’s, Inc.’s investment banking advisors, including Eastdil Secured, Credit Suisse and Goldman Sachs. He will be based in New York City.

Most recently, Sesler was president of True Square Capital LLC, a real estate investment and advisory firm. He served from 2005 to 2011 at Bank of America Merrill Lynch International Ltd. in roles that included global head of principal real estate investments and global co-head of real estate investment banking. Previously, from 1989 to 2005, Sesler served in a variety of roles at Citigroup and its predecessors, including as managing director of the global real estate investment banking group, and managing director of the Travelers Realty Investment Company. He began his career in real estate roles at Chemical Bank.

“Doug Sesler is a world-class talent with a track record of success in developing, leading and implementing real estate strategies and transactions,” said Lundgren. “We will rely on his experience, expertise and discipline to create and structure real estate opportunities that will create shareholder value, sustain our long-term financial strength and enhance our retail business. We are fortunate to have an executive of Doug’s caliber at the helm of our real estate efforts.”