CINCINNATI (AP) -- Macy's Inc. said Thursday that Ron Klein, its chief stores officer, is retiring in March after 36 years with the company.
Peter Sachse, 53, currently chief marketing officer and chairman of macys.com, will succeed Klein, 62.
Macy's suffered during the recession as consumers cut back on spending and traded down to discount stores. But the Cincinnati-based chain has benefited from tailoring its merchandise to local merchants. In its most recent quarter, a key revenue metric rose 4 percent and the company raised its guidance.
Klein joined the company in 1974 as a buyer at Bloomingdale's, which Macy's owns, and served in several executive roles before becoming chief stores officer in 2009.
Macy's is also assigning new roles to other executives. Martine Reardon, 49, executive vice president for marketing, will succeed Sachse as Macy's chief marketing officer. Jeffrey Gennette, 50, current chief merchandising officer, will also assume responsibility for marketing and macys.com. Jeff Kantor, 52, president of merchandising of macys.com, will become chairman of macys.com
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