After 8 years of leading one of the largest retail stores in the United States, Jeff Gennette announced plans to retire from Macy’s as CEO. The news that he will be stepping down at the end of 2021 comes at the end of a long tenure marked by innovation and success for the company.
Macy’s CEO Jeff Gennette: A Long Successful Track Record
Jeff Gennette was hired in 2009 with the goal of modernizing the 159-year-old company. He was instrumental in not just updating the brand but also successfully navigating difficult years in retail.
He implemented several key changes, such as streamlining operations, downsizing, and partnering with online players like Alibaba and Amazon, to ensure Macy’s position as a leader in the retailing industry.
Since Gennette took the helm, some of Macy’s accomplishments include:
● Growing revenue every year, increasing by 30% under his tenure
● Introducing innovative services such as same-day delivery and in-store pick up
● Refocusing on exclusive fashion labels, developing private-label brands and discounts
● Implementing a streamlined omnichannel platform which includes the Macy’s app and website
● Expanding retail presence including international stores
● Investing in technology and facility updates
Jeff Gennette’s Relationship With Employees and Suppliers
Gennette was intent on connecting with Macy’s employees and suppliers. He worked to ensure better inclusivity and diversity in the workplace. He also created programs and activities to recognize exemplary service and performance.
Gennette has also been a strong champion of the ethic of ‘Keep it real’ and was involved in Macy’s efforts to get their suppliers to the right production standards. He is also a member of the National Retail Federation and Strategic Advisors Council, both of which help set standards in the retail sector.
Macy’s CEO Jeff Gennette and Community Engagement
Jeff ensured that Macy’s stayed close to their customers and had a presence in their communities. Gennette was proactive in making sure that the company interacted with customers in a meaningful and educational way.
He extended the company’s participation in community initiatives and expanded the partnership with charities like Make-A-Wish and St. Jude Children’s Research Hospital. Gennette was also responsible for the company’s ‘Shop with a Purpose’ campaign, which was aimed at addressing local inequities and poverty.
Where Will Jeff Gennette Go After Macy’s?
Other than the end date of his employment, there is no further detail on where Jeff Gennette plans to move on to after leaving Macy’s. There is, however, widespread speculation that he may be planning to join another business venture, as his career in the industry has been well-covered and successful.
Jeff Gennette’s Replacement and Final Report
Gennette’s replacement is expected to be named this fall and he is committed to assisting in the transition process. Before leaving, Gennette will also prepare a final report on Macy’s operations and make any necessary final adjustments.
After 8 years of success, Jeff Gennette has chosen to step down as CEO of Macy’s. Under Gennette’s leadership, Macy’s became one of the most successful retailers in the United States. He achieved many successes during his tenure, including increasing revenues, developing innovative services, introducing private label brands, and enhancing the company’s community engagement.
Gennette will be remembered for his commitment to Macy’s, strong relationships with employees, resolving ethical issues, and helping the company stay up to date. His replacement is expected to be announced in the fall and Gennette is committed to assisting in the transition.
