Left: Tracey Zhen. Right: Ashley Buchanan. Credit: Macy’s, Inc

Macy’s, Inc. Appoints Ashley Buchanan and Tracey Zhen to Board of Directors

Macy’s, Inc. announced the appointment of Ashley Buchanan, chief executive officer of The Michaels Companies (“Michaels”), and Tracey Zhen, president of Zipcar, to its board of directors, effective October 5, 2021.

As CEO of Michaels since early 2020, Buchanan has led the company through a significant transformation, including a reimagined omnichannel experience and strengthened store business that resulted in record growth, financial and operational performance. He previously served in various roles at Walmart, most recently as chief merchant for the U.S. eCommerce business where he introduced an omnichannel approach to the country’s largest employer.

Zhen oversees all facets of the business in her role at Zipcar, the world’s leading car-sharing network, and is focused on leveraging innovation and technology to grow Zipcar’s position as a category leader. She brings more than 20 years of experience in leadership roles at consumer technology companies, including TripAdvisor and Expedia, where she held general management positions.

“We are very pleased to welcome these two proven and innovative leaders to the Macy’s, Inc. board of directors,” said Jeff Gennette, chairman and chief executive officer of Macy’s, Inc. “Ashley and Tracey bring valuable and highly relevant expertise that will help our company continue to execute our Polaris strategy and drive growth. Ashley brings decades of experience in retail and a history of overseeing omnichannel transformations efforts at both Michaels and Walmart. We also look forward to leveraging Tracey’s global consumer technology background and track record of fueling innovation and applying technology to deliver growth. Our board and overall organization will benefit from their fresh perspectives as we continue to advance our integration of innovative digital shopping and compelling stores to most effectively meet the needs of our current and future customers, from off-price to luxury.”

“We are confident that Tracey and Ashley will be strong additions to our board, bringing skills and experience that directly align with Macy’s strategy and efforts to position the company for profitable growth,” said Paul Varga, Macy’s, Inc. lead independent director. “I look forward to working closely with both of them as the company continues to build on its momentum.”

“Macy’s is an iconic American retailer, and I am honored to serve on the board during this transformative moment in its history,” said Buchanan.

“Macy’s, Inc. is on an exciting trajectory, and I am eager to work together with the talented board and management team to build on its momentum, expand its market share and reach new customers,” Zhen concluded.

With the addition of Buchanan and Zhen, the Macy’s, Inc. board will comprise 12 members. Buchanan will serve on the Audit Committee and Zhen will serve on the Nominating and Corporate Governance Committee.

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