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Macy’s Adds 2 Arkhouse Directors to Board in Deal to End Proxy Fight

Retail TouchPoints

As part of an agreement with activist investor Arkhouse Management , Macy’s Inc. Ric Clark and Rick Markee bring tremendous dealmaking experience to Macy’s board and will be instrumental in maximizing value for shareholders,” said Gavriel Kahane and Jonathon Blackwell, Managing Partners at Arkhouse in a statement. “As

Finance 251
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Macy’s Names Gennette’s Successor as CEO Plans 2024 Retirement

Retail TouchPoints

Jeff Gennette, Chairman and CEO of Macy’s since 2017, plans to retire in February 2024 after a total of four decades with the retailer. Mitchell will lead the stores, technology and supply chain teams in addition to his current real estate and finance responsibilities. I’m excited that Tony Spring has been appointed Macy’s Inc.’s

Planning 254
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Target Names New COO, Divvies Up Merchandising Responsibilities

Retail TouchPoints

He will wear both hats until Target names a new finance chief. Current COO John Mulligan announced his retirement plans in October 2023. Fiddelke began his career as a consultant with Deloitte and joined Target as an intern in 2003 after earning an MBA at the Kellogg School of Management.

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Guitar Center Plans Bankruptcy Filing, Mulls Potential Store Closings

Retail TouchPoints

Supermajorities of the company’s noteholder groups have committed to vote in favor of the RSA plan, which Guitar Center forecasts will be completed before the end of 2020. Additionally, Guitar Center has negotiated $375 million in Debtor-In-Possession financing and plans to raise $335 million in new senior secured notes.

Planning 164
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Activist Investor Arkhouse Nominates Slate of Retail Heavyweights in Bid to Take Over Macy’s Board

Retail TouchPoints

Real estate investment firm Arkhouse Management has put forward a slate of nine nominees in an attempt to take control of the Macy’s, Inc. Arkhouse first put forward its takeover offer in conjunction with asset manager Brigade Capital in December 2023, offering to buy the company for $5.8 Target , Victoria’s Secret and Vitamin Shoppe.

Finance 244
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American Eagle Names Replacements for Departing COO

Retail TouchPoints

In her new role as EVP and Chief Supply Chain Officer at AEO, Clarke will be responsible for managing AEO’s global supply chain from sourcing through distribution. In the new role of EVP of Brand Operations at AEO, van Ogtrop will drive greater brand collaboration while fueling growth and profitability across American Eagle and Aerie.

Finance 259
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Morphe Parent Company Files for Bankruptcy in Preparation for Sale

Retail TouchPoints

The sale is part of an agreement that FORMA’s parent company, FB Debt Financing Guarantor, reached with an entity controlled by the agent under FORMA Brands’ existing secured debt. These lenders include Jefferies Finance and funds managed by Cerberus Capital Management and FB Intermediate Holdings.

Wholesale 276