Macy's is searching for a new chief marketing office with the news that Martine Reardon, a company veteran of 32 years, has decided to leave. The question, aside from whether the company will promote from within or look outside for its new CMO, is whether Ms. Reardon's replacement will take the department store operator's marketing off in some new strategic direction or follow the current script?
Ms. Reardon, who was named CMO in 2012, is leaving the chain following four years of same-store declines. Macy's has been losing business to discounters and fast fashion chains alike. In January, the company announced around 3,000 job cuts.
Last November, the company said it planned to create "shareholder value through real estate initiatives." A little over a week ago, Macy's announced the hiring of Douglas Sesler to "oversee the company's real estate function and lead high-priority initiatives to increase shareholder value through real estate strategies, including creating potential joint ventures or other partnerships involving the company flagship locations and mall-based properties."
On her leaving, Ms. Reardon said, "I am extremely proud of the work that I have led in building Macy's into an international omnichannel brand. We have established a clear and compelling brand promise rooted in fashion, entertainment, pop culture, value and newness, and opened potential new avenues for growth."
- Martine Reardon to Depart Macy's - Macy's, Inc./Business Wire
- Macy's, Inc. Outlines Cost Efficiency Initiatives and Lists Store Locations to Be Closed - Macy's, Inc./Business Wire
- Macy's, Inc. Hires Douglas W. Sesler as Top Real Estate Executive - Macy's, Inc./Business Wire
- Is Macy's in trouble? - RetailWire