Tripathy Moves to TJX from Macy’s

by MR Magazine Staff

NEW YORK – Nirmal “Trip” Tripathy has joined The TJX Companies as executive vice president and chief financial officer.

As CFO, Tripathy, who resigned as president and chief operating officer of the Macy’s Florida division of Macy’s (formerly Federated Department Stores) last month, succeeds and reports to Jeffrey Naylor, who was concurrently appointed chief administrative and business development officer of the Framingham, Massachusetts-based off-price retailer.

Tripathy had served as Macy’s Florida’s president, with responsibility for finance, operations, human resources and real estate, since 2003 and was appointed executive VP of the division in 2002. Previously, Tripathy, a certified public accountant, held executive posts with Limited Brands and PepsiCo. Earlier in his career, he was a consultant with PricewaterhouseCoopers.

Carol Meyrowitz, president and chief executive officer of TJX, said Tripathy “has deep experience as a financial and operations executive at major national and international retail and consumer product companies.”

Tripathy described TJX as “a company with a long and successful history in the retail industry. I am impressed by the financial strength of the company, the growth potential of its businesses and the quality of its people.”

Among Tripathy’s priorities in his new role at TJX will be the ongoing investigation into the wide-ranging credit card data breach disclosed by the company in January.

Naylor joined TJX as CFO in 2004 and became chief financial and administrative officer last September. He remains a senior VP of the firm. Earlier in his career he was CFO of Big Lots and held financial posts with Limited Brands, Sears and Kraft Foods. He continues to report to Donald Campbell, vice chairman of TJX.

TJX is the largest off-price retailer based in the US and operates the T.J. Maxx, Marshalls, HomeGoods, A.J. Wright and Bob’s Stores chains in the US, the Winners and HomeSense nameplates in Canada and the T.K. Maxx stores in Europe.