CINCINNATI--(BUSINESS WIRE)--May 23, 2018--
Macy’s, Inc. (NYSE:M) today announced that Paula A. Price will be
appointed chief financial officer, effective July 9, 2018.
Price will be responsible for leading the company’s finance, accounting,
investor relations and internal audit functions. She will report to Jeff
Gennette, Macy’s, Inc. chairman and chief executive officer, and will be
based in New York. Price will succeed Karen Hoguet who, as previously
announced, plans to retire at the end of the 2018 fiscal year. Ms.
Hoguet will remain with Macy’s, Inc. in an advisory role to support the
company during a transition period until February 2, 2019.
“I’m excited to have Paula join Macy’s, Inc. at such an important time
for our business. She is an accomplished financial executive with an
impressive breadth and depth of retail experience and will be a great
addition to the team. Having led finance in a variety of complex and
dynamic retail organizations, Paula’s insights and experience will serve
Macy’s, Inc. well,” said Gennette.
“Karen Hoguet is truly one of the great leaders in retail. I want to
again thank her for her outstanding contributions to the company over
the past three decades, for her partnership with me over the past year,
and for her support through this transition,” said Gennette.
Price joins Macy’s, Inc. with 30 years of finance experience primarily
in retail and consumer-facing businesses. She is currently a full-time
senior lecturer in the accounting and management unit at Harvard
Business School, a role she has held since 2014.
In her most recent corporate role as executive vice president, chief
financial officer of Ahold USA, Price led a team of over 1,000 across
finance, accounting, strategy and planning, real estate and information
technology. She was also responsible for the successful development and
execution of a $1 billion program to fund Ahold USA’s strategic growth
initiatives, which included sales efforts, customer loyalty and
e-commerce initiatives. Prior to her role with Ahold USA, she served as
senior vice president, controller and chief accounting officer of CVS
Caremark Corporation, where she was a major contributor to the execution
of the CVS/Caremark merger. Earlier in her career, Price held finance
and strategy positions at a variety of retail, consumer products and
financial services companies.
About Paula A. Price
Paula A. Price has 30 years of finance experience mostly from retail and
consumer-facing businesses, including as executive vice president, chief
financial officer of Ahold USA, and senior vice president, controller
and chief accounting officer of CVS Caremark Corporation. At Ahold,
Price was responsible for finance, accounting and shared services;
strategy and planning; real estate development and construction;
not-for-resale sourcing; and information technology. In addition to
leading a team of over 1,000, she delivered a $1 billion program to fund
the company’s strategic growth initiatives. Price has been a full-time
senior lecturer at Harvard Business School and served on the boards of
publicly traded retail and technology companies since 2014. She has also
held senior level roles at other large companies in the United States
and abroad, including JPMorgan Chase, Diageo, Kraft and Sears. Price is
a certified public accountant who began her career at Arthur Andersen &
Co. A Chicago native, Price holds an MBA with specialization in Finance
and Strategy from University of Chicago Booth School, and a B.Sc. in
Accounting from DePaul University.
About Macy’s, Inc.
Macy’s, Inc. is one of the nation’s premier retailers. With fiscal 2017
sales of $24.837 billion and approximately 130,000 employees, the
company operates approximately 690 department stores under the
nameplates Macy’s and Bloomingdale’s, and more than 160 specialty stores
that include Bloomingdale’s The Outlet, Bluemercury, Macy’s Backstage
and STORY. Macy’s, Inc. operates stores in 44 states, the District of
Columbia, Guam and Puerto Rico, as well as macys.com, bloomingdales.com
and bluemercury.com. Bloomingdale’s stores in Dubai and Kuwait are
operated by Al Tayer Group LLC under license agreements. Macy’s, Inc.
has corporate offices in Cincinnati, Ohio, and New York, New York.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180523005696/en/
Source: Macy’s, Inc.
Blair Fasbender Rosenberg,