Macy’s Names Adrian Mitchell as New Chief Financial Officer
Macy’s Inc. has hired a new Chief Financial Officer to help navigate its business during the continued pandemic and to prepare for the holidays. Adrian Mitchell was recently announced as the new Chief Financial Officer for the company, effective Nov. 2, 2020. He will replace interim finance Chief, Felicia Williams, who has been professionally working in the role since June 1, 2020.
Mitchell currently serves as managing director and partner at Boston Consulting Group. Last February, Macy’s presented a plan to reduce $1.5 billion in costs. In doing this, the plan entailed store closures, layoffs, and offices shutting down. Like many fashion businesses, Macy’s has taken a hit during the pandemic and had to close its stores early on. Macy’s stores began reopening just recently this past May after months of loss. Macy’s online sales continue to remain consistent but reports say, in-person sales are hurting.
Macy’s is now preparing for the holiday season, and brand leaders hope to have a successful run. Mitchell’s new role will be challenging but Mitchell himself has a long list of impressive retail positions under his belt that hopefully helps him deliver a successful plan during current times. Mitchell was once Chief Operating Officer and interim CEO at Crate & Barrel Holdings, Inc., Chief Executive of Arhaus LLC, and he also has held a few management roles at Target Corporation.