22 August, 2017
As part of its latest efforts to restructure the company, the department store chain has appointed eBay executive Hal Lawton to fill the role of President, effective September 8, 2017. Macy's anticipates the restructuring will save the company approximately $30 million on an annual basis but that it will cost between approximately $20 million and $25 million in the short term, with most of the charges incurring in Q3 2017.
The department store chain said Hal Lawton, formerly of eBay, will become president reporting to Chief Executive Jeff Gennette, effective September 8.
Meanwhile, the retailer's restructuring plans will see the consolidation of merchandising, planning and private brands into a single simplified merchandising organisation led by 35-year Macy's veteran Jeff Kantor. The company is expanding its customer insights and data analytics to include inventory replenishment and pricing capabilities. The move will result in the loss of 100 jobs.
Lawton will oversee all aspects of the Macy's brand, taking on responsibility for functions like merchandising, marketing, stores, operations, tech, and consumer insights and analytics.
Before joining eBay in 2015, Lawton held a number of leadership positions during a decade at Home Depot, including Senior VP of Merchandising and head of the company's online business. "This is a key step as we look to further transform the business and work through the volatility of today's retail landscape".
"Hal Lawton has deep expertise at the intersection of retail and technology, a diverse set of business experiences that give him a unique perspective, and a track record of successfully driving a change agenda at scale", Macy's CEO Jeff Gennette said in a statement. Kantor has extensive experience in merchandising and stores, has overseen Macys.com and is now chief stores and human resources officer, the company said. "I'm thrilled that he has chosen to join Macy's", Gennette said.
Gennette also revealed plans to "aggressively grow" Macy's private brands while also offering what he called "the best national brands".