Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
Jeffrey Gennette, who oversees Macys.com, wins promotion from chief merchandising officer.
Macy’s Inc., the department store chain that is No. 12 in the Internet Retailer 2013 Top 500 Guide, has a new president.
In his new job, Jeffrey Gennette will continue his oversight of Macys.com, a responsibility he’s had since 2012, along with the retailer’s marketing efforts, a spokesman for the chain says. He also will take charge of the chain’s private brands. Gennette reports to chairman and CEO Terry J. Lundgren.
"Jeff Gennette is an outstanding merchant who has proven to be an insightful strategist and strong leader in our company," Lundgren says. "As our president, with the additional responsibility for Macy's private brands, Gennette will have a total view of Macy's merchandise assortment and marketing strategy, both in stores and online, consistent with our omnichannel vision. Our exclusive private brands, which have provided a powerful competitive advantage for Macy's, will continue to play a vitally important role in delivering fashion, quality and value to our customers."
Gennette wins promotion to president from his previous job as Macy’s chief merchandising officer, a position he held for five years, the chain says. Before that, he was chairman and CEO of Macy’s West for a year. He also worked as chairman and CEO of Macy's Northwest in Seattle from December 2005 to February 2008. Macy’s says it hired Gennette in 1983.
Macys.com chairman and CEO Jeff Kantor and president Kent Anderson will both report to Gennette, whose background is primarily as a merchant, the spokesman says. He adds that while the e-commerce unit’s technology and operations team are primarily in San Francisco, merchandising and marketing functions are primarily based in New York City.