The TJX Companies, Inc. Names John Klinger Chief Financial Officer

Rhea-AI Summary

The TJX Companies, Inc. has announced the promotion of John Klinger to Executive Vice President and Chief Financial Officer, effective January 29, 2023, coinciding with the start of the fiscal year. Klinger, who has been with TJX since 2000, will supervise Corporate Finance, including Audit, Treasury, Tax, and Investor Relations. Current CFO Scott Goldenberg will transition to Senior Executive Vice President, continuing to oversee various corporate functions. CEO Ernie Herrman expressed confidence in their leadership and expertise as integral to the company's continued success.

Positive

• John Klinger has extensive experience with TJX, having joined in 2000 and held various finance roles.
• The leadership transition aims to maintain strong financial oversight and strategic direction.

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• None.

FRAMINGHAM, Mass.--(BUSINESS WIRE)-- The TJX Companies, Inc. (NYSE:TJX), the leading off-price retailer of apparel and home fashions in the U.S. and worldwide, announced today that John Klinger has been promoted to Executive Vice President, Chief Financial Officer effective January 29, 2023, the beginning of TJX’s fiscal year. Mr. Klinger will oversee Corporate Finance for TJX, including Audit, Treasury, Tax, and Investor Relations. He will continue to report to Scott Goldenberg who has been CFO since 2012. Mr. Goldenberg will continue as Senior Executive Vice President, Finance, with responsibility for certain other corporate functions, including Global Communications, Risk Management, New Business Development, and financial aspects of Real Estate.

Ernie Herrman, Chief Executive Officer and President of The TJX Companies, Inc., commented, “I am very pleased with John’s promotion to TJX’s CFO position. John has worked for TJX for over two decades and has both the financial expertise and deep understanding of TJX that are vital to this role. He has worked closely with Scott over many years, and for the past few years, has overseen most of the corporate finance functions as Corporate Controller. John has worked in both divisional and corporate areas for TJX and in the U.S. and internationally. He is seen as a leader within TJX with a strong commitment to the professional development of the Finance team.”

Mr. Herrman continued, “I want to express my great gratitude to Scott for his exceptional decade of service to TJX in the CFO role. I especially want to recognize Scott’s dedication and financial expertise that were critical to TJX as we navigated the COVID pandemic and helped this Company emerge in a very strong financial position. I am very pleased that Scott will remain in the SEVP role, and with John in his new role, I am very confident that TJX will continue to benefit from their combined off-price experience, financial expertise, and leadership.”

Mr. Klinger joined TJX in 2000 as a Manager of Business Analysis, Marmaxx. He held various Finance positions with increasing responsibility within HomeGoods and Marmaxx before being promoted to VP, Divisional CFO for AJWright in 2007. In 2011, he became VP, Corporate Finance and was promoted to SVP, Divisional CFO, TJX Europe later that year. He returned to the U.S. in 2015 to assume the role of SVP, Corporate Controller. In April 2019, Mr. Klinger was named Executive Vice President, Corporate Controller. Prior to joining TJX, Mr. Klinger was with the Stride Rite company starting in 1994. He held various Finance roles, eventually becoming the Director of Finance in 1998.

About The TJX Companies, Inc.

The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. As of October 29, 2022, the end of the Company’s third quarter, the Company operated a total of 4,793 stores in nine countries, the United States, Canada, the United Kingdom, Ireland, Germany, Poland, Austria, the Netherlands, and Australia, and five e-commerce sites. These include 1,295 T.J. Maxx, 1,171 Marshalls, 880 HomeGoods, 72 Sierra, and 43 Homesense stores, as well as tjmaxx.com, marshalls.com, homegoods.com, and sierra.com, in the United States; 296 Winners, 150 HomeSense, and 106 Marshalls stores in Canada; 629 T.K. Maxx and 78 Homesense stores, as well as tkmaxx.com, in Europe; and 73 T.K. Maxx stores in Australia. TJX’s press releases and financial information are available at TJX.com.

Forward-looking Statement

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: Various statements made in this release are forward-looking and involve a number of risks and uncertainties. All statements that address activities, events or developments that we intend, expect or believe may occur in the future are forward-looking statements, including, among others, statements regarding the Company’s business plans and prospects. The following are some of the factors that could cause actual results to differ materially from the forward-looking statements: the ongoing COVID-19 pandemic and associated containment and remediation efforts; execution of buying strategy and inventory management; various marketing efforts; customer trends and preferences; competition; operational and business expansion; management of large size and scale; merchandise sourcing and transport; labor costs and workforce challenges; personnel recruitment, training and retention; data security and maintenance and development of information technology systems; corporate and retail banner reputation; cash flow; expanding international operations; fluctuations in quarterly operating results and market expectations; mergers, acquisitions, or business investments and divestitures, closings or business consolidations; real estate activities; inventory or asset loss; economic conditions and consumer spending; market instability; serious disruptions or catastrophic events; disproportionate impact of disruptions in the second half of the fiscal year; commodity availability and pricing; adverse or unseasonable weather; fluctuations in currency exchange rates; compliance with laws, regulations and orders and changes in laws, regulations and applicable accounting standards; outcomes of litigation, legal proceedings and other legal or regulatory matters; quality, safety and other issues with our merchandise; tax matters; and other factors that may be described in our filings with the Securities and Exchange Commission. We do not undertake to publicly update or revise our forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied in such statements will not be realized.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221115006518/en/

The TJX Companies, Inc.

Debra McConnell

Global Communications

(508) 390-2323

 

Source: The TJX Companies, Inc.

FAQ

Who is the new CFO of TJX as of January 29, 2023?

John Klinger has been promoted to Chief Financial Officer of TJX effective January 29, 2023.

What role will Scott Goldenberg play after the CFO transition at TJX?

Scott Goldenberg will continue as Senior Executive Vice President, overseeing various corporate functions.

How long has John Klinger worked at TJX?

John Klinger has worked at TJX for over two decades since joining in 2000.

What will John Klinger oversee as CFO of TJX?

John Klinger will oversee Corporate Finance, including Audit, Treasury, Tax, and Investor Relations.