Macy's CEO to resign
Terry Lundgren will step down as Macy's CEO next year, bringing an end to a reign of 14 years at the department store giant. He will be succeeded by current president and former chief merchandising officer Jeff Gennette. Gennette will join the Macy`s board immediately and will assume additional responsibilities during the transition period, including taking a bigger role in store operations. Lundgren will continue on at the company as executive chairman of the board, working side-by-side with his successor, who will be president and CEO.
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