Macy’s has named Jill Granoff, managing partner at Eurazeo and chief executive officer of Eurazeo’s Brands division, and Marie Chandoha, former president and CEO of Charles Schwab Investment Management, to its board of directors, effective Friday.
With the addition, Macy’s board will now comprise 14 members.
Granoff, 59, is also chairman of Nest New York and a director at Bandier and Jaanuu. At Eurazeo, she is responsible for leading investment activities and overseeing the performance of the firm’s brands portfolio globally. Earlier, she served in executive roles at such companies as Vince, Kenneth Cole, Liz Claiborne, Victoria’s Secret and Estée Lauder.
Chandoha, 60, brings more than 35 years in financial services and investment management spaces. Most recently, she led Charles Schwab Investment Management’s product and digital transformation, doubling the firm’s assets under management. Previously, she held executive roles at firms such as BlackRock, Barclays, Wells Fargo, Goldman Sachs and Credit Suisse.
“Both Marie and Jill are highly respected future-oriented leaders with proven track records as operators and innovators who bring strong and relevant expertise to reinforce the ongoing execution of our Polaris growth strategy. Marie’s deep financial services and capital markets experience and Jill’s unique ability to recognize and position companies to meet evolving consumer need will enable them to immediately add value to our board,” said Jeff Gennette, chairman and CEO of Macy’s inc. “We look forward to their insights and expertise as Macy’s Inc. continues to deliver a differentiated shopping experience for our customers and drive growth and value for our shareholders.”
Granoff said, “Macy’s Inc. is an iconic brand recognized around the world, and I look forward to applying my industry knowledge and omnichannel operating expertise to help the company build on its strong progress and positive momentum.”
Chandoha said, “Strong capital investment and discipline are core to Macy’s Inc.’s Polaris strategy, and I am eager to work with the board to help position the company for continued success in today’s competitive and rapidly changing environment.”
Paul Varga, Macy’s Inc.’s lead independent director, said, “Our ongoing effort to enhance the expertise and diversity to our board is a key pillar of our board’s commitment to support the company’s long-term strategic plan and drive sustainable and profitable growth. Marie and Jill’s appointments underscore this commitment, and we are thrilled to welcome to the Macy’s Inc. board.”
Last month, Gennette said Macy’s decided not to spin off its digital business, after a review of its operations. Macy’s has been under pressure from activist shareholder Jana Partners to create separate dot-com and brick-and mortar-store business. The company is accelerating Polaris initiatives that include continuing to grow digital sales, private label offerings and expansion of off-mall, small-format Market by Macy’s and Bloomie’s stores.
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