Macy's finds new Chief Financial Officer in Paula Price
Macy's announced Paula Price as its new Chief Financial Officer on Wednesday. Price will lead all finance, accounting, investor relations and internal audit functions and will report to Jeff Gennette, Macy’s chairman and CEO.
Gennette said in a statement that Price "is an accomplished financial executive with an impressive breadth and depth of retail experience."
He added, "Having led finance in a variety of complex and dynamic retail organizations, Paula’s insights and experience will serve Macy’s, Inc. well."
Price comes to Macy's from her most recent role as a full-time senior lecturer at Harvard Business School. She has 30 years experience in finance with retail and consumer-facing companies.
Her most recent corporate role was as executive vice president and chief financial officer at Ahold, where she led a team of 1,000 and a $1 billion program budget. Her accomplishments there included driving customer loyalty, sales and e-commerce initiatives.
Before joining Ahold, Price was senior vice president, controller and chief accounting officer at CVS Caremark Corporation where she was instrumental in the merger. She also brings career finance experience from JPMorgan Chase, Diageo, Kraft and Sears.
Price replaces outgoing CFO Karen Hoguet, who announced her plans to retire at the end of this fiscal year. She will remain involved with the company in an advisory capacity to facilitate the transition through February 2, 2019.
Price's appointment is effective July 9, 2018.
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