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Macy's announces executive changes

NEW YORK (AP) -- Macy's Inc. said Monday that Thomas L. Cole is retiring as chief administrative officer.

Cole, who has worked with Macy's and predecessor companies, will remain with Cincinnati-based Macy's through May to help in the transition as his responsibilities are assigned to other executives.

The list includes William S. Allen, who joined the company, effective Monday, as chief human resources officer. Allen, a corporate human resources executive who previously was a senior vice president of AP Moller-Maersk A/S, joins the Macy's executive committee and reports to Terry J. Lundgren, Macy's chairman, president and CEO. Allen will oversee Macy's Inc. human resources, diversity strategies, and corporate communications and external affairs. In addition, Allen will have administrative responsibility for the law function that reports directly to Lungren.

Robert B. Harrison, previously executive vice president for omnichannel strategy, is assuming the newly created role of chief omnichannel officer. He also will join the company's executive committee. In addition to his existing role managing the development of strategies to closely integrate the company's stores, online and mobile activities, Harrison will assume responsibility for systems and technology, logistics and related operating functions.

Karen M. Hoguet, chief financial officer, will assume additional responsibilities for credit and customer services, real estate, non-merchandise purchasing and sustainability. All of the company's finance and accounting functions report to Hoguet. In addition she will have administrative responsibility for the internal audit function that reports directly to Lundgren.

Peter Sachse, chief stores officer, will assume additional responsibility for store planning, designer, and construction. The company's nationwide portfolio of Macy's stores, as well as the regional district, and central stores organization and visual merchandising, continue to report to Sachse. He is a member of the executive committee and reports to Lundgren as well.

Macy's shares rose 65 cents to close at $39.39.