New rumblings at the top of Macy’s (NYSE:M). The department store chain said Tuesday that it has tapped international retail executive Olivier Bron as the next CEO of its upscale department store, Bloomingdale’s.
Bron will succeed Tony Spring. A 36-year veteran of Bloomingdale’s, Spring became CEO-elect of the parent company Macy’s in March. He will succeed longtime leader Jeff Gennette, who is retiring in February.
Bron will step into his new role in early November.
With the move, the legacy retailer is adding an outside perspective and a dash of global flair to the higher-end department store. Bron, 46, is a French national who was most recently CEO of Central and Robinson department stores in Thailand.
Prior to that, he was chief operating officer and director of strategy for Galeries Lafayette, a French retail group in Paris. He also spent more than a decade at Bain & Company as a retail consultant.
By tapping a retail executive who is from another company and country, Macy’s may be hinting at bigger global ambitions for Bloomingdale’s. The chain has a small international presence, with locations in Dubai and Kuwait. Yet Bloomingdale’s flagship store in midtown Manhattan signals its popularity with tourists who flock to New York City. The store’s exterior is decorated with flags from around the world.
Macy’s also has described Bloomingdale’s as “a cornerstone” of one its key strategies — growing its luxury business.
M shares forged ahead 18 cents, or 1.5%, to $11.66.
