Macy's: Tony Spring to take charge as CEO, Chair-Elect, succeeding Jeff Gennette

Omni-channel fashion retailer Macy's, Inc. (M) announced Friday that Tony Spring will serve as chief executive officer of the company, effective February 4. He was also named Chair-Elect.

As announced in March, Spring, aged 58, succeeds Jeff Gennette, who is retiring as chief executive officer after serving the company for 40 years.

Gennette will continue as chair of the board until the company's 2024 Annual Meeting, following which Spring will become the board chair.

Spring, executive vice president and Bloomingdale's chairman and chief executive officer, in March was appointed by the Macy's board as president and CEO-elect, and a member of the board.

As president and CEO-elect, he was leading Macy's' digital, customer, merchandising, and brand teams, and also overseeing Bloomingdale's and Bluemercury.(AFP)