Macy's adds to board
Macy’s, Inc. has announced the appointment of Naveen Chopra, executive vice president and chief financial officer of Paramount Global, to its board of directors, effective April 1. He will also serve on the audit and finance committees.
An operational and finance expert, Chopra has served as chief financial officer for several high-growth companies over the past 20 years. In his current role, Chopra helms Paramount Global’s financial operations and global corporate development and strategy.
Before that, he was chief financial officer of Amazon’s devices and services business, responsible for some of Amazon’s businesses including Alexa and Echo, FireTV, Ring, Kindle and the Amazon Appstore. Chopra has also successfully executed corporate transformations, including while as chief financial officer of both Pandora Media and TiVo Corporation.
Earlier in his career, Chopra held business development roles at both large enterprises like Microsoft and Hewlett Packard and early-stage venture-backed companies including WebTV, Ofoto, and Rearden Steel.
“Naveen brings impressive experience at the intersection of digital innovation and financial growth to our board,” said Jeff Gennette, chairman and chief executive officer of Macy’s, Inc. “His career as a CFO spans consumer, technology and media companies, and we are confident his insights will be highly relevant to us as we build on our position as a digitally led, modern department store. We look forward to his contributions to our board.”
Coinciding with the appointment, Macy's said John Bryant and Leslie Hale, both of whom have served on the board since 2015, will not stand for re-election at the company’s 2023 annual meeting.
Following the meeting, Macy’s, Inc. board will be comprised of 13 members, 12 of whom are independent and continues to represent a diverse range of ages, experiences, skills and ethnicities.
In its most recent trading update in early March, Macy's said its expects 2023 sales between $23.7 billion and $24.2 billion, compared with the average estimate of $24.29 billion, according to IBES data from Refinitiv.
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