Terry Lundgren

Terry Lundgren: Chairman and Chief Executive Officer, Retired Macy’s, Inc.

Terry Lundgren served for 14 years as CEO of Macy’s, Inc., operator of Macy’s, Bloomingdale’s, Bluemercury and one of the largest retail ecommerce businesses in America. He retired from Macy’s, Inc. in 2017. Prior to becoming CEO of the company in February 2003 and Chairman and CEO in January 2004, Lundgren had been President and Chief Merchandising OƯicer since May 1997. (The company’s name changed to Macy’s, Inc. from Federated Department Stores, Inc. in 2007.)

Lundgren began his retailing career in 1975 as a trainee with Bullock’s, a Los Angeles-based division of Federated. In 1987, at the age of 35, he was named President and CEO of Bullocks Wilshire, then the most upscale and high fashion chain of specialty department stores owned by Federated.

Lundgren left Federated after its acquisition by the Campeau Corporation in 1988, joining Neiman Marcus in Dallas, TX, as Executive Vice President and shortly thereafter was named Chairman and CEO. He held that position until 1994 when he returned to Federated. As Chairman, CEO of the corporation, Lundgren led Federated’s acquisition of The May Department Stores Company in August 2005, nearly doubling the size of the company. One year later, he changed the name of more than 400 regional department stores across the country to the Macy’s name, creating a nationwide brand and the largest fashion retail company in America. In February 2015, Macy’s acquired Bluemercury. In fiscal 2016, the final year of Lundgren’s tenure as CEO, Macy’s, Inc. sales approached $26 billion, with approximately 140,000 employees. The company operated approximately 575 department stores under the nameplates Macy’s and Bloomingdale’s, and approximately 150 specialty stores that include Bluemercury, Bloomingdale’s The Outlet and Macy’s Backstage, in 45 states, the District of Columbia, Guam and Puerto Rico, as well as macys.com, bloomingdales.com and bluemercury.com.

Lundgren was named one of the Top 30 CEOs in the world by Barron’s in 2015. He was WWD’s “Newsmaker of the Year” in 2014 and is the recipient of the Deming Cup by Columbia Business School for distinction in leading continuous improvement. Among his honors, Lundgren in 2008 received the Gold Medal Award from the National Retail Federation, considered the retail industry’s most prestigious recognition.

Lundgren is a graduate of the University of Arizona where he gave the commencement address to the graduating class of 2000 and was awarded the Honorary Doctor of Laws degree. Lundgren is an active supporter of The Terry J. Lungren Center for Retailing at the University of Arizona. He was also awarded the honorary Doctor of Commercial Sciences degree from SuƯolk University in 2001.

Lundgren currently serves on the board of directors of The Procter & Gamble Company, is a member of the Sarasota Memorial Hospital Foundation board, and the board of Trustees for the University of Arizona and serves as an Executive In Residence at Columbia Business School and is Co-Chair of the Deming Cup Award at Columbia University. He is a former Operating Partner of Blackrock LTPC and board member of Kraft Foods Inc., the Federal Reserve Bank of New York and has participated in numerous charitable and civic eƯorts. He has served as Co-Chairman of the Partnership for New York City and was Co-Founder of the American Heart Association CEO Roundtable, and as Chairman of the National Retail Federation (twice), National Minority Supplier Development Council, and the American Society of Corporate Executives, and the Economic Club of New York. He also served on the board and executive committee of Carnegie Hall for two decades.