Heaving Anew: A Fresh Look
- Sharon Otterman dons the crown as Macy's new CMO, officially stepping into her role on Dec. 11, reporting directly to Tony Spring, the soon-to-be CEO.
- Her recent tenure was held at Caesars Entertainment, where she spearheaded the sports betting and gaming brand experience. Prior to that, she was a part of the Madison Square Garden Company, NBCUniversal’s news division, and ESPN.
- Richard Lennox, who previously held the CMO position, transitioned into the role of chief customer officer three years ago, subsequently parting ways with the company. Abby James served as the interim replacement, as communicated by a Macy's spokesperson via email.
Glimpse Behind the Curtain:
Macy's appoints new head of marketing department.
As Spring gears up for his leadership role at the helm of the country's leading department store, he's pulling together his team for the new year. Previously, Spring, a seasoned veteran who was once the CEO of Bloomingdale's, was appointed to replace Jeff Gennette in a similar ascension path. Both leaders started at the store level and rose through the ranks. For the CMO position, however, Macy's sought an outsider, someone with a "multifaceted background in media, entertainment, and digital transformation."
Spring expressed his enthusiasm for Otterman's appointment, stating, "We are thrilled to harness her skills to bring more 'retail theater' to our shopping experiences. She's a strategic powerhouse with a proven record of building brands, crafting innovative marketing campaigns, and fostering profitable growth."
Macy's is currently navigating major shifts, among which is distancing itself from some of the malls it once anchored. Instead, the company is establishing more small-format locations in strip centers, for both its Macy's and Bloomingdale's businesses.
In its last quarter, sales and profits saw a decline, yet Macy's cautiously clawed its way above expectations, reporting healthy margins. Despite these positive signs, the company lost market share during this period, according to GlobalData research.
Added Perspective:
- Sharon Otterman has been an instrumental force in creating grand experiences for Macy's, such as the 50th Macy’s Flower Show, highlighting her significant role in marketing and event planning for the company [1][3].
- To delve deeper into Sharon Otterman's professional background, resources such as press releases from Macy's or other reputable sources may provide more insightful information.
- Sharon Otterman, now Macy's new Chief Marketing Officer (CMO), shows an evolving industry leadership, bringing her expertise from Caesars Entertainment, where she led sports betting and gaming brand experiences.
- In the entertainment industry, Richard Lennox, previous Macy's CMO, now serves as the chief customer officer, having left the company after transitioning into that role three years ago.
- As the retail landscape shifts, Macy's is focusing on opening small-format locations in strip centers, moving away from some mall anchors and broadening their business in Macy's and Bloomingdale's.
- Despite experiencing a decline in sales and market share in the last quarter, Macy's managed to report healthy margins, showing resilience in the finance sector.
- Sharon Otterman's role in creating grand events like the 50th Macy’s Flower Show underscores her significant impact on the lifestyle aspect of Macy's marketing and event planning.
- The business careers of executives, such as Sharon Otterman and Tony Spring, demonstrate a path from store-level leadership to industry-leading positions, shaping the direction of the department store industry.
- The research from GlobalData revealed that, despite Macy's positive signs in sales and finance, the company lost market share during the quarter.
- The industry of sports betting and gaming, as shown by Sharon Otterman's tenure at Caesars Entertainment, has become increasingly integrated into the entertainment and business world.
- As Shearon Otterman steps into her role as Macy's CMO, highlighting her multifaceted background in media, entertainment, and digital transformation, the company's future endeavors in marketing, shopping, and lifestyles are set to be brief, but influential in the evolving retail landscape.
