Bloomingdale’s and Express Get New CEOs
This week saw some major leadership shuffles, including at-the-top changes for both Bloomingdale’s and Express as the retailers announced new CEOs. Olivier Bron is taking on the role of CEO at Bloomingdale’s (owned by Macy’s) while Stewart Glendinning becomes CEO and a member of the board of directors at Express.
In the new role, Bron will oversee Bloomingdale’s overall strategy, beginning in November, and will also work on expanding the curated collection of private brands and designers. He will report directly to Macy’s CEO-elect and president, Tony Spring.
“I am honored to be named the next CEO of Bloomingdale’s,” said Bron in a statement. “I look forward to building on the team’s momentum across Bloomingdale’s, including new store formats and continued digital expansion.”
[Also read: Macy’s Experiences Second-Quarter Losses, Small Format Location Expansion]
Bron was most recently CEO of Central Group’s Central and Robinson Department Stores based in Thailand. He brings over 20 years of experience across international retail, having focused on sustainable growth, operational efficiencies, and strategic planning for other retail groups like Galeries Lafayette in Paris and at Bain & Company.
Spring said that Bron’s extensive international retail career and experience with the luxury market will prove invaluable in the company’s pursuit of growth and strengthening the Bloomingdale’s brand.
New Leadership at Express Needs to Transform Rocky Financial Standing
Glendinning takes on the new role amid a rocky period for the apparel retailer. This past March, the New York Stock Exchange alerted Express it could be delisted if it did not maintain an average closing price of at least $1,00 over 30 consecutive trading days, the company said in a recent statement.
Glendinning replaces Tim Baxter, who resigned from the CEO position — though the company clarified this was unrelated to Express’ “accounting or financial reporting.”
“The Express Board is confident that Stewart is the right person to reinvigorate performance and build the strongest possible foundation on which Express can succeed,” said Mylle Mangum, chairman of the Express Board, in a statement. “He is a highly accomplished executive who will bring fresh thinking to the company and our strategies for profitable growth.”
Mangum added that Stewart and the board believe the company is in need of “further operating improvements and greater financial discipline.”
[More leadership news: rue21 Names Scott Saeger CIO]
Glendinning has worked across the consumer products industry for more than 20 years, focusing on financial discipline and building high-performing teams. He was previously group president of prepared foods at Tyson Foods, Inc. where he worked with brands such as Jimmy Dean, Hillshire Farm, and Ball Park. Prior to that, he was chief financial officer for Tyson Foods.
“Express has an outstanding portfolio of brands, a high-potential partnership with WHP and a premier omnichannel platform. Through a keen focus on execution and cost discipline, I am confident that we can better capitalize on these differentiators, increase the Company’s financial strength and create shareholder value. I look forward to leveraging my experience and to working closely with the board and Express team to drive value creation for all our stakeholders.” — Stewart Glendinning
