Is Macy’s New CEO Jeff Gennette The Right Man For The Job?

While the timing of Lundgren’s resignation announcement surprised some onlookers, Gennette’s promotion was by no means unexpected. Gennette started his career in retail in 1983 as a Macy’s West executive trainee and steadily climbed the ranks, ultimately rising to president and de facto heir apparent following a five-year stint as chief merchandising officer. Macy’s board directors accelerated the transition to give Gennette the latitude to begin overhauling the company now, a source familiar with the company told the Wall Street Journal. “He is going to make the radical changes” before he officially takes over from Lundgren next year, the source said. The question is how radical. Read more at Retail Dive.