Macy’s, Inc. Welcomes Robert Chavez as New Board Member

Macy’s, Inc. Welcomes New Director Robert Chavez

Macy’s, Inc. (NYSE: M) has made an exciting announcement regarding its Board of Directors. The company has appointed Robert Chavez as an independent director, effective from a forthcoming date. This decision reflects the company's strategic focus on expanding its leadership team to enhance its operational strengths in retail.

Robert Chavez: A Leader in Luxury Retail

Robert Chavez is a seasoned professional with an impressive career spanning over 45 years in the retail industry, particularly in the luxury sector. His extensive experience includes a notable tenure as President and Chief Executive Officer of Hermès Americas, a significant division of Hermès International Société. During his time there, Chavez played a crucial role in managing operations across the U.S., Canada, and Latin America while driving growth in e-commerce and expanding the brand's store network.

Chavez's Career Journey

Before his successful leadership at Hermès, Chavez spent eight years as the Chief Executive Officer of the Etienne Aigner Group, a prestigious luxury fashion house based in Munich. His experience at Etienne Aigner involved various aspects of business such as manufacturing, wholesale, and global retail strategies. His career began at Bloomingdale's through their Executive Development program, ultimately leading him to valuable roles at Macy’s, further solidifying his deep understanding of the retail landscape.

Statements from Leaders

Tony Spring, Chairman and Chief Executive Officer of Macy’s, expressed enthusiasm for Chavez's addition to the Board, stating that Bob brings a wealth of retail industry knowledge and leadership experience. This expertise will be instrumental as the company seeks to increase market share across its well-known brand names. He emphasized the importance of Chavez's insights as Macy's embarks on its Bold New Chapter initiatives aimed at establishing sustainable, profitable growth while enhancing shareholder value.

In response, Chavez expressed his excitement and honor in joining the Macy’s Board, highlighting his passion for the retail industry. He looks forward to working closely with fellow directors to seize growth opportunities across Macy’s, Bloomingdale’s, and Bluemercury—all critical components of the Macy’s business ecosystem.

Upcoming Changes in Board Leadership

Along with announcing Chavez’s appointment, Macy’s also informed that Sara Levinson will not seek reelection at the Company’s next Annual Meeting of Shareholders due to compliance with the mandatory retirement age set by the Board’s Corporate Governance Principles. Levinson has been a part of the Board since 2004, contributing valuable insights as a member of the Compensation & Management Development Committee and the Nominating & Corporate Governance Committee.

Thank You to Sara Levinson

Paul Varga, lead independent director of Macy’s, expressed gratitude on behalf of the Board, recognizing Levinson for her significant contributions throughout her tenure. The company is committed to refreshing its Board and believes that adding Chavez will enhance the overall expertise of the Board members.

About Robert Chavez

Robert Chavez, aged 69, will continue to serve as Executive Chairman at Hermès Americas until his planned retirement in the future. His comprehensive knowledge of the luxury retail market, gained through years of leadership, is expected to bolster the initiatives at Macy’s as the company aligns its strategies with contemporary retail trends.

Chavez’s academic foundation includes a bachelor’s degree in Romance Languages and Literature from Princeton University, which complements his interpersonal and communicative skills in the diverse retail environment.

About Macy’s, Inc.

Macy’s, Inc. (NYSE: M) continues to establish itself as a reliable source for quality branded products through its iconic nameplates, which include Macy’s, Bloomingdale’s, and Bluemercury. With its headquarters in New York City, the company leverages its extensive digital presence and physical stores to provide a seamless shopping experience for customers nationwide. As a forward-thinking retailer, Macy’s is always looking for innovative ways to enhance customer experience and maintain its competitive edge in the retail market.

Frequently Asked Questions

Who is Robert Chavez?

Robert Chavez is the newly appointed independent director of Macy’s, Inc., with a remarkable background in luxury retail, having served in various leadership roles including President of Hermès Americas.

What is the significance of Chavez's appointment?

Chavez's appointment is significant as it brings extensive experience in luxury retail and leadership, important for advancing Macy’s strategic objectives and market share growth.

What roles did Sara Levinson hold at Macy’s?

Sara Levinson served on the Compensation & Management Development Committee and the Nominating & Corporate Governance Committee since 2004 before deciding not to seek reelection.

How does Macy’s ensure Board refreshment?

Macy’s emphasizes ongoing director refreshment by evaluating Board composition regularly and welcoming experienced industry leaders like Robert Chavez to strengthen its governance.

What is Macy’s, Inc. known for?

Macy’s, Inc. is well-known for its extensive array of quality brands through its retail nameplates, providing customers a diverse and seamless shopping experience both online and in stores.

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