Macy’s, Inc. Appoints Robert Chavez to Board of Directors

Rhea-AI Summary

Macy's, Inc. (NYSE: M) has appointed Robert Chavez as an independent director to its Board of Directors, effective April 1, 2025. Chavez brings over 45 years of experience in the retail industry, focusing on the luxury sector. He has served as President and CEO of Hermès Americas for 24 years, where he expanded e-commerce, product offerings, and store locations across the U.S., Canada, and Latin America. Previously, Chavez was CEO of Etienne Aigner Group and began his career in the Bloomingdale’s Executive Development program, later working as a Divisional Merchandising Manager at Macy's.

Chavez's appointment aims to leverage his extensive retail and leadership experience to help Macy’s capture market share across its three brands: Macy’s, Bloomingdale’s, and Bluemercury. Tony Spring, Chairman and CEO of Macy’s, expressed confidence in Chavez's ability to contribute to the company's growth initiatives.

Additionally, Sara Levinson will not seek reelection at the 2025 Annual Meeting of Shareholders due to the Board's mandatory retirement age policy. Levinson has been a board member since 2004, serving on several committees. Paul Varga, Macy’s lead independent director, acknowledged her contributions and welcomed Chavez as part of the board's ongoing refreshment strategy.

Positive

• Appointment of Robert Chavez, an experienced leader in luxury retail, to Macy's Board of Directors.
• Chavez's extensive experience in expanding e-commerce and product offerings could enhance Macy's growth strategies.
• Chavez's background aligns with Macy's goal to capture market share across its brands.

Negative

• Sara Levinson will not seek reelection, potentially causing a short-term gap in board experience and continuity.

NEW YORK--(BUSINESS WIRE)-- Macy’s, Inc. (NYSE: M) today announced the appointment of a new independent director, Robert Chavez, to its Board of Directors (the “Board”), effective April 1, 2025.

Chavez has spent the entirety of his more than 45-year career in the retail industry, with a focus on the luxury space. He most recently served for 24 years as President and Chief Executive Officer of Hermès Americas, a division of Hermès International Société, where he oversaw operations in the U.S., Canada and Latin America, which included growing the e-commerce business, expanding product offerings and adding new stores to the brand's portfolio. Previously, he served for eight years as the Chief Executive Officer of Etienne Aigner Group, a Munich-based luxury fashion house, where he gained experience across manufacturing, wholesale and global retail. Chavez began his retail career in the Bloomingdale’s Executive Development program and later moved to Macy’s as a Divisional Merchandising manager.

“Bob will bring significant additional retail industry and leadership experience to our Board as we further our efforts to capture market share across our three nameplates,” said Tony Spring, Chairman and Chief Executive Officer of Macy’s, Inc. “We look forward to benefitting from Bob’s insights as we continue to execute our Bold New Chapter initiatives and work toward delivering sustainable, profitable growth and enhanced shareholder value.”

“I am honored to join the Macy’s, Inc. Board and serve as a director at the Company where I started my career and in the industry which I am most passionate about,” Chavez said. “I look forward to collaborating with my fellow directors to capture the growth opportunities across the Macy’s, Bloomingdale’s and Bluemercury businesses for the benefit of all Macy’s, Inc.’s stakeholders.”

The Company today also announced that Sara Levinson will not stand for reelection at the Company’s 2025 Annual Meeting of Shareholders in accordance with the mandatory retirement age of the Board’s Corporate Governance Principles. Levinson has served on the Board’s Compensation & Management Development Committee and Nominating & Corporate Governance Committee since 2004.

“On behalf of the entire Board, I want to thank Sara for her contributions to Macy’s, Inc. throughout her tenure as a director,” said Paul Varga, Macy’s, Inc. lead independent director. “We are also pleased to welcome Bob to the Board as part of our commitment to ongoing director refreshment. His decades of luxury retail and leadership experience will complement the skills and expertise of our other valued directors.”

About Robert Chavez

Robert (“Bob”) Chavez, 69, most recently served as President and Chief Executive Officer of Hermès Americas, a division of Hermès International Société, where he remains Executive Chairman until his retirement on March 31, 2025. In this role, Chavez oversaw operations in the U.S., Canada and Latin America, which included growing the company’s e-commerce business after Hermès became one of the first luxury retail companies with an e-commerce website, expanding product offerings to include several additional Hermes product categories and increasing the brand’s store footprint. Previously, Chavez served for eight years as Chief Executive Officer and an Executive Director of Etienne Aigner Group, a Munich-based luxury fashion house that produces leather goods including handbags, belts, and luggage, where he gained experience across manufacturing, wholesale and global retail. He began his career in the Executive Development Program at Bloomingdale’s before serving in merchandising roles of increasing responsibility at both Bloomingdale’s and at Macy’s. Chavez earned a bachelor’s degree in Romance Languages and Literature from Princeton University.

About Macy’s, Inc.

Macy’s, Inc. (NYSE: M) is a trusted source for quality brands through our iconic nameplates – Macy’s, Bloomingdale’s and Bluemercury. Headquartered in New York City, our comprehensive digital and nationwide footprint empowers us to deliver a seamless shopping experience for our customers. For more information, visit macysinc.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250105126633/en/

Media – Chris Grams

communications@macys.com

Investors – Pamela Quintiliano

investors@macys.com

Source: Macy’s, Inc.

FAQ

What impact does Robert Chavez's appointment to Macy's Board have on the company?

Robert Chavez brings over 45 years of luxury retail experience to Macy's Board, potentially aiding in expanding e-commerce and product offerings, and helping capture market share.

When will Robert Chavez join Macy's Board of Directors?

Robert Chavez will join Macy's Board of Directors on April 1, 2025.

What are Robert Chavez's qualifications for joining Macy's Board?

Robert Chavez has over 45 years of experience in the retail industry, including 24 years as President and CEO of Hermès Americas, where he expanded operations, e-commerce, and product offerings.

Why is Sara Levinson not seeking reelection at Macy's 2025 Annual Meeting?

Sara Levinson will not seek reelection due to the Board's mandatory retirement age policy.

What roles did Sara Levinson serve on Macy's Board?

Sara Levinson served on the Compensation & Management Development Committee and the Nominating & Corporate Governance Committee since 2004.

How might Robert Chavez's luxury retail experience benefit Macy's shareholders?

Chavez's experience in luxury retail may help Macy's enhance its e-commerce, expand product offerings, and capture market share, potentially leading to sustainable, profitable growth and enhanced shareholder value.