Karen Hoguet, Chief Financial Officer at Macy's since 1997, has decided to retire in February 2019, at the completion of the company’s fiscal year. An external search is underway for Hoguet’s replacement and the company anticipates a well-ordered transition.

“Karen Hoguet is one of retail’s most respected executives and is an outstanding Chief Financial Officer. For the past three decades, Karen has had a voice in almost every major decision at Macy’s and its predecessor Federated Department Stores. She knows our business inside and out and, through good times and bad, Karen has been a steady and strategic hand in the CFO’s seat. The company is grateful to Karen for her service. I am deeply appreciative of her partnership over the past year as we have worked together to return Macy’s to growth, and I thank her in advance for leading what I know will be a smooth transition”, stated Jeff Gennette, Macy’s, Inc. Chairman and Chief Executive Officer.

Hoguet will continue in her role as CFO until her successor is appointed. She will then remain in an advisory role to support the company during a transition period until the 2nd of February 2019. Hoguet began her career at Federated Department Stores in 1982 and was appointed to the role of Chief Financial Officer in 1997.

By the end pf 2017 Macy’s, Inc. reported sales of 24.837 billion US dollars and approximately 130 000 employees, while operating more than 690 department stores under the nameplates Macy’s and Bloomingdale’s, and approximately 160 specialty stores that include Bloomingdale’s The Outlet, Bluemercury and Macy’s Backstage.