Paula Price
Paula Price, Executive VP and Chief Financial Officer for department store chain Macy’s, has quit after two years in the role.
The former Harvard Business School lecturer will remain with the business until 31 May in order to support the successor’s transition.
She will also work as an advisor for the firm until November 2020.
“I want to thank Paula for her leadership and contribution to Macy’s,” said the retailer’s CEO and Chairman Jeff Gennette.
“She has built a strong finance leadership team and we are fortunate to have a very deep bench to draw on to ensure a smooth transition.
“We will continue to take all necessary actions to ensure that Macy’s emerges from this pandemic on solid footing and ready to serve our customers.”
He added: “Paula remains a critical part of our plan and, while I respect her decision, I also appreciate the long runway she is giving us for this transition.”
The New York-based retail conglomerate comprises three brands: Macy’s, Bloomingdale’s and a dedicated beauty arm Bluemercury, which stocks brands across skin, hair and body care, as well as colour cosmetics and products for men.