Struggling retail giant Macy’s (NYSE: M) has a new leader. The company announced that, effective immediately, Jeff Gennette is its CEO, after being elected unanimously by the board of directors. The vote was only a formality. The company announced last summer that Gennette would ascend to the position in this year’s first quarter. Gennette replaces Terry Lundgren, who had occupied the CEO chair since 2003.
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