Macy’s CEO Lundgren to step down next year
Macy’s Inc. Chief Executive Terry Lundgren will step down from that role next year, as the company struggles to adapt to changing consumer demands.
Company President Jeff Gennette will take over as CEO, a move the company said was part of its succession plan. Mr. Lundgren, who has been CEO since 2003, will remain chairman.
Shares of Macy’s rose 3.5 % to USD 33.94 in early trading. Even factoring in that move, the company’s stock has lost roughly half of its value in the past 12 months.
In May, Macy’s, the country’s largest department-store chain, reported its worst quarterly sales since the recession, setting off fresh fears about the health of the U.S. retail sector.
Many of America’s traditional retail stores have struggled to adapt to the shift toward online shopping and fast-fashion chains. Many have responded by closing weaker locations and investing in e-commerce but the moves haven’t been enough to counter weak demand.
“Now is the time to reset our business model to thrive in a future that is being driven by rapid evolution in consumer preferences and shopping habits,” Mr. Lundgren said.
Gennette, who is 55, was named president of Macy’s in March 2014 after being chief merchandising officer since 2009. He began his retail career in 1983 as an executive trainee at Macy’s West.
Under Mr. Lundgren’s tenure, Macy’s in 2005—then called Federated Department Stores Inc.–bought rival and No. 2 department store chain May Department Stores Co. for about USD 11.5 billion.
The company also doubled down on its Macy’s brand, changing its corporate name from Federated and rebranding its regional stores to the Macy’s nameplate.
When Mr. Lundgren took the over helm, Macy’s operated about 394 department stores and 61 specialty stores and brought in USD 15.44 billion in revenue. Today, Macy’s operates about 870 stores under its namesake brand as well as Bloomingdale’s. In 2015, Macy’s net sales stood at USD 27.08 billion.
Klaus Huneke nominated as next Euratex President
On June 9, 2016, EURATEX General Assembly nominated a new President – Klaus Huneke will take the political lead of the confederation in January 2017 for a two years’ term.
Huneke will succeed Serge Piolat, the current EURATEX President, stated: “I really appreciate the confidence EURATEX members expressed today and I will be very delighted to become the confederation’s next President. I believe Mr. Piolat made a solid foundation for a new way EURATEX functions to better represent our industry. My intention is to continue this fruitful work directed in three strategic areas: trade and industrial policy, innovative industry and responsible businesses.’
Klaus Huneker has a wide international experience in the textiles industry. He made a remarkable career at Heimbach, a large technical textiles producer in Germany. Having started his path as an engineer in the petrochemical industry, in 90s he joined Heimbach where he was a CEO until his retirement. Mr. Huneke has been engaged in numerous actions aimed to advance German industry, especially been the President of the German textile employer’s association since April 2000. Klaus Huneke has also been actively involved in representation of textile and clothing industry at the European level, acting as a Board Member and Vice-President Treasurer of EURATEX.
As an experienced industrialist, Klaus Huneke has an ambitious plan for his upcoming presidency. He believes EURATEX shall continue being a bridge between the companies of our sector and the European institutions. It is vital that European authorities, namely the European Commission and the European Parliament, take into account the specificity of our industry designing regulations and program affecting our sector. At the same time, EURATEX will keep informing our companies how to better benefit from the initiatives designed at the EU level.
Euratex General Assembly as well nominated Serge Piolat (UIT, France) and Rusen Cetin (ITKIB, Turkey) as Vice-Presidents and Alberto Paccanelli (SMI, Italy) as its Vice-President Treasurer for the upcoming two-years term.
New CEO for British Wool Board
BWMB, the British Wool Marketing Board () have appointed a new Chief Executive Officer. Joe Farren, 44, from Cawood in North Yorkshire officially took over the reins at the Board June 1, 2016 following the retirement of Ian Hartley who’s been leading the organisation for the last 22 years. A graduate of Balliol College, Oxford in Modern Languages and English, Joe is also a qualified barrister. He spent the first part of his career in the City advising on company mergers and acquisitions.
In 2004 Joe joined SIG Plc, the FTSE 250 Yorkshire headquartered multinational distributor of building and home improvement products, where he was Head of UK and Ireland Business Development. From 2013, he was a director with LDC, the private equity arm of Lloyds Bank. He is part of a farming family and Joe and his wife have farms in Yorkshire and Aberdeenshire.
Ian Buchanan, Chairman, BWMB said, “We welcome Joe to the BWMB in this high profile and important position at a crucial time not only in agriculture but also in the wool sector. We look forward to working with Joe, ensuring we continue to serve the best interests of our producers and in maximising the value of their wool. On behalf of UK wool producers I also thank Ian Hartley for his hard work, commitment and contribution to the BWMB and the wool industry and wish him well for a long and happy retirement”.
Joe Farren commented, “I am delighted to have joined the BWMB. I am determined the Board will continue its good service to wool producers. The Board will also seek to continuously improve the efficiency with which it handles their wool, to manage the auction process effectively so as to maximize prices for producers and to promote wool strongly on the global stage as the pre-eminent fibre, being aesthetically attractive, high performance and environmentally friendly.”
Dave Dombrow returns to Under Armour as Chief Design Officer
Under Armour announced on June 9, 2016 that Dave Dombrow, former Under Armour Senior Vice President, Creative Footwear and Accessories, will return to the brand as Chief Design Officer, beginning August 1, 2016. In his newly created role as Chief Design Officer, Dombrow will guide the design of Under Armour’s entire collection of footwear, apparel and accessories
“In his time at Under Armour, Dave played an instrumental role in creating innovative and cutting-edge footwear with international acclaim,” said Under Armour founding partner, Kip Fulks. “As Under Armour continues to evolve the key pillars of innovation and design while expanding global growth in all categories, Dave’s unique abilities to challenge the status quo and to anticipate the needs of the future athlete are exactly what we need to further our success.”
Since he started at Under Armour in 2010, Dombrow has been integral in the growth of Under Armour’s footwear category. One of Dombrow’s crowning achievements and a never-before-seen manifestation of his unique vision was his co-creation of the UA SpeedForm Apollo, a shoe that utilizes a full-length 4D foam sock liner to conform to your foot’s exact shape. The innovative technology was groundbreaking and has been the basis of other shoes to follow.
In addition to his successes in the running shoe space, Dombrow is also the visionary behind the game-changing Curry One, Stephen Curry’s first signature shoe. The evolution of the Curry line-up includes the Curry 2 and the Curry 2.5, which have been vital sales drivers for the brand.
“I continue to be humbled and amazed by what we have built together, fueled by the core commitment to innovation and design, as well as the entrepreneurial drive to make all athletes better,” said Dombrow. “I can’t wait to help create our next chapter.”
Dombrow will assume his new role at Under Armour’s headquarters in Baltimore, Maryland (USA).
Under Armour, the originator of performance footwear, apparel and equipment, revolutionized how athletes across the world dress. Designed to make all athletes better, the brand’s innovative products are sold worldwide to athletes at all levels. The Under Armour Connected Fitness(TM) platform powers the world’s largest digital health and fitness community through a suite of applications: UA Record, MapMyFitness, Endomondo and MyFitnessPal. The Under Armour global headquarters is in Baltimore, Maryland.
US Lands’ End promotes Becky Gebhardt to Executive Vice President and more
Today, Lands’ End announced the appointment of several new leadership roles across the company, led with the promotion of Becky Gebhardt to Executive Vice President and Chief Marketing Officer for Lands’ End. In this new role, Gebhardt will lead all aspects of creative and marketing for the global lifestyle brand. Previously, Gebhardt served as Senior Vice President and Chief Creative Officer since May 2014 and has been with the company in different stages since 1991.
“As I look at all of the opportunities to grow Lands’ End as a global brand, the role of CMO is crucial to our success as we continue to connect with our long-term, loyal customers, and introduce the brand to new customers in innovative and meaningful ways,” said Federica Marchionni, CEO, Lands’ End. “Becky’s extensive knowledge of Lands’ End, her proven track record as a business leader for directing brand and creative efforts for multi-channel businesses, along with her 20 plus years of industry expertise focused on consumer brands and customer experiences makes her the ideal candidate, and we are excited to have her at the helm leading this critical function.”
Gebhardt will oversee the marketing and creative teams, ensuring the development of integrated customer strategies and campaigns, including brand advertising, catalog, e-commerce and digital brand marketing, social media and retail marketing. She will continue to focus on elevating and expanding the customer experience through editorial content, brand voice, photography and innovative 360 degree marketing campaigns and will also lead all efforts with our customer retention, engagement, analytics and new customer acquisition initiatives for all of the Lands’ End businesses.
“I am also pleased to announce that Mike Zhang recently joined Lands’ End as Vice President, E-Commerce, Digital Marketing and Innovation, and he will work closely with Mike Holahan, promoted to Senior Vice President, Multi-Channel Marketing,” said Marchionni.
Mike Zhang will lead the continued elevation of the brand’s digital transformation, driving consumer purchasing behavior and expand the customer’s experience across all digital channels. Zhang brings over 15 years of proven success in driving customer acquisition, performance marketing and end-to-end strategic marketing plans.
Mike Holahan, an accomplished marketing leader who has been with Lands’ End since 2008, has over 20 years of expertise in marketing, insights and data analytics and will play an influential role overseeing our catalog marketing efforts, business analytics and consumer insights, as well as further defining the promotional cadence and marketing strategies to drive profitability for Lands’ End.
“Both positions will report directly to Becky Gebhardt, as we continue to focus on strategically building a stronger analytics team to elevate the customer experience, while creating and communicating enticing brand messages and personalized content, both in our catalog and across all digital channels,” said Marchionni.
“Thanks to a strong business acumen and effective leadership, we will be expanding the role of Angie Rieger, our Senior Vice President, of Inventory Management and Planning, to help drive the US Direct business,” said Marchionni. “Angie will identify and address the financial impact of business decisions and strategic initiatives and will assume an influential leadership role with critical, cross-functional partners, including marketing and finance.”
Angie Rieger, a strategic leader with nearly 25 years of skilled expertise in inventory management and planning, possesses tenured experience with a keen focus on the multi-channel structure of Lands’ End. Rieger will report directly to Jim Gooch, CFO/COO, Lands’ End.
Lands’ End® is a classic American lifestyle brand with a passion for quality, legendary service, real value and a simple two-word promise to stand behind everything it sells: Guaranteed. Period.® Lands’ End delivers timeless style for Men, Women, Kids and the Home.
Lectra appoints Céline Choussy Bedouet to its Executive Committee
Lectra, the world leader in integrated technology solutions dedicated to industries using fabrics, leather, technical textiles and composite materials, is pleased to announce the appointment of Céline Choussy Bedouet, Chief Marketing and Communications Officer to the Executive Committee, starting on July 1, 2016. This appointment reflects Lectra’s strategy to boost its marketing and communications
“Céline’s experience, demanding nature, expertise, as well as her knowledge of our market segments have made Lectra’s marketing a strategic asset. This has been demonstrated by the many initiatives she has successfully undertaken over the last three years,” declares Daniel Harari, Lectra CEO and Chairman of the Executive Committee. “By reinforcing the Executive Committee, represented today by Edouard Macquin, Jérôme Viala, Véronique Zoccoletto and myself, we will be in a stronger position to attain our 2016 objectives and prepare for the future. Céline will play a critical role in Lectra’s next strategic cycle, which will be presented in February 2017,” he adds.
The marketing division’s development was an essential component of the strategic roadmap and the company’s transformation plan, launched at the end of 2011 and supported by an investment of €50 million throughout 2012-2015 for the future. Its workforce was strongly increased at headquarters and in the main subsidiaries, especially in China and the United States. Lectra’s image and reputation have been strengthened, through a range of innovative solutions, worldwide marketing and communications campaigns in the fashion, furniture, and automotive industries, major international events at the Bordeaux-Cestas technology campus, as well as customer testimonials with even more impact.
“I am honoured and delighted to be appointed to the Executive Committee, especially given that Lectra is preparing to announce its 2017-2019 roadmap, which will enable us to reach the next step in our development. I am pleased and proud to be able to contribute to innovative projects that are being planned, all the while understanding the importance of the new mission I have been given,” explains Céline Choussy Bedouet.
With a master’s degree in management from ESC Bordeaux (Bordeaux Management School), France, Céline Choussy Bedouet began her career in 2000 at Dassault Systemes where she headed up the implementation and monitoring of the company’s strategic partnership with Mircrosoft in the United States. In 2008, Céline Choussy Bedouet joined Autodesk as Marketing Manager for Europe. Later on, she was in charge of global manufacturing marketing campaigns before joining Lectra in September 2013.
Lectra is the world leader in integrated technology solutions (software, automated cutting equipment, and associated services) specifically designed for industries using fabrics, leather, technical textiles, and composite materials to manufacture their products. It serves major world markets: fashion and apparel, automotive, and furniture as well as a broad array of other industries. Lectra’s solutions, specific to each market, enable customers to automate and optimize product design, development, and manufacturing. With more than 1500 employees, Lectra has developed privileged relationships with prestigious customers in more than 100 countries, contributing to their operational excellence. Lectra registered revenues of USD 264 million in 2015 and is listed on Euronext.