Bloomingdale's Chairman and CEO Michael Gould announced he will exit the job after 22 years of leadership at the upscale retailer.
Gould will be succeeded by Tony Spring, 48, who is the active Bloomingdale president and chief operating officer. The changing of the guard is to be effective on Feb 1.
The 70-year-old Gould is credited with growing the department store from 15 stores in 1991 to a $3 billion, 50-unit retailer with an online business. Bloomingdale’s is owned by Macy’s and competes with Saks Fifth Avenue, Neiman Marcus, Barneys New York and Nordstrom.
Gould recently told Forbes magazine he was mulling the next chapter of his career which could include work in education, philanthropy, for other companies, or “maybe I’ll try out for The Red Sox,” said the Boston native.
Macy’s, CEO Terry Lundgren said Gould has been an outstanding and inspirational leader who has strengthened Bloomingdale's position as an upscale fashion trendsetter known and loved by customers around the globe.
Lundgren also noted that Spring, who has been at Bloomingdale's for 26 years, has been an integral part of Bloomingdale's formula.
• Saks executives move on
The $2.9 billion acquisition of Saks by the Hudson Bay Company is expected to close this week marking the exit of CEO Stephen Sadove whose last day is Nov. 1. Sadove recently joined the board at J.C. Penney.
Harrods executive Marigay McKee will become president of Saks Inc, as Robert Wallstrom is moving on to the CEO role of Vera Bradley.
Chief merchandiser Ronald Frasch and six other senior executives are also departing Saks this week.
• Kroger CEO to retire
Long-time chairman & CEO of Kroger, David Dillon, will pass the baton onto chief operating officer Rodney McMullen, when Dillon retires effective Jan. 1.
Dillon announced his retirement last month and during an investor conference in New York this week he emphasized that now was the right time to transition leadership because “the best is yet to come.”
He told analysts that the business is extremely robust and he is leaving it capable hands as the two have worked together for the past decade.