Macy’s ($MACY@US) CEO Jeff Gennette will retire early next year, ending his four-decade career at the company. Tony Spring, CEO of Bloomingdale’s, will take his place. Chief Financial Officer Adrian Mitchell will take on an expanded role as the company’s chief operating officer, leading store operations, technology, and supply chain teams, along with his existing role in finance and real estate. Gennette became CEO in 2017 at a time when the higher-end retail chain faced declining sales as consumers’ shopping habits shifted to online platforms. He led the company’s three-year turnaround plan, which called for enhancing digital growth, closing underperforming shops, and investing in the company’s top-performing stores.
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