Meyrowitz To Succeed Cammarata as TJX CEO

by MR Magazine Staff Sep 08, 2006

NEW YORK – Off-price giant The TJX Companies said Thursday that Carol Meyrowitz will succeed Bernard Cammarata as chief executive officer of the firm next Jan. 28.

Cammarata will continue as chairman and Meyrowitz, who was also elected a director of the firm, will retain her current title as president.

Carol Meyrowitz

Additionally, Donald Campbell, chief administrative and business development officer, will become vice chairman of TJX, and Jeffrey Naylor, currently senior vice president and chief financial officer, will assume additional responsibilities from Campbell as chief administrative officer. A successor to Naylor as CFO is being sought.

Cammarata will chair a newly former committee of executive management, consisting of Meyrowitz, Campbell and Naylor as well as senior executive vice presidents Arnold Barron and Alex Smith and Marmaxx Group president Ernie Herrman, executive vice president of the corporation.

Meyrowitz joined TJX in 1983 and served as president of The Marmaxx Group, the firm’s largest division, for four years before her appointment as president last October. She’d also held senior management posts with Chadwick’s of Boston and Hit or Miss, two former divisions of TJX.

In a press release, Cammarata commented, “Carol’s knowledge of TJX and her proven, successful track record, along with her leadership abilities and creative talent, make her far and away the right choice for CEO. Carol has been responsible for some of our most successful initiatives, such as the jewelry/accessories and footwear expansions at The Marmaxx Group. She is a visionary leader and great generator of ideas and I am confident her ideas will continue to drive profitable sales, which remains our chief goal.”

Based in Framingham, Mass., TJX is the largest off-price retailer in the U.S. and had 2005 revenues of $16.1 billion. In addition to Marmaxx, consisting of 810 T.J. Maxx stores and 731 Marshalls units, the firm operates 261 HomeGoods stores, 157 A.J. Wright units and 36 Bob’s Stores in the U.S. in addition to apparel and home stores in Canada and Europe.