Content about Terry Lundgren

Cincinnati -- Macy’s on Monday announced a series of changes to its senior executive leadership team, effective immediately. The changes include the creation of the newly-created role of chief omni-channel officer, which will be filled by Robert B. Harrison, previously Macy’s EVP for omni-channel strategy. Harrison, who will join the company’s executive committee, will report directly to Macy’s chief executive Terry Lundgren.
 

New York  -- Procter & Gamble named Macy’s chairman, president and CEO Terry Lundgren as the newest member of its board of directors.

Lundgren fills a position vacated by current P&G director Johnathan Rodgers who is not seeking re-election when P&G’s holds its annual shareholder meeting in October.

New York -- A Thursday report by Bloomberg said that Macy’s CEO Terry Lundgren is slated to give his deposition next month over a contract dispute with Martha Stewart Living Omnimedia Inc.

Citing documents filed Thursday in New York state court, Bloomberg said that Lundgren is scheduled for a half-day of questioning on July 3 in advance of a July 13 hearing on his company’s request for a preliminary injunction.

New York -- Results were mixed among the department store players in February, as Macy’s turned in a strong performance and Kohl’s missed expectations.

For the month, Macy’s reported a same-store sales gain of 4.6%, beating the 3.5% rise anticipated by Wall Street. Online sales for the operator of Bloomingdale’s and its namesake banner surged 31.3%, boosting the same-store sales percentage advance. Total revenue in February increased 5.5% to $1.86 billion.

Cincinnati -- Macy's net income surged in the third quarter amid strong sales. The retailer on Wednesday also raised its full-year profit outlook and announced plans to build two new stores in New York and one in California.

Macy's earned $139 million for the three months ended Oct. 29, up from $10 million, in the same period last year. Revenue increased 4.1% to $5.85 billion. Same-store sales rose 4%.

New York City -- Macy's CEO Terry Lundgren’s compensation package dipped 8% in 2010 to nearly $11.8 million, according to an analysis by The Associated Press.

Lundgren received a salary of $1.5 million in 2010, the same as the year before. The stock awards he received were valued at $3.6 million when they were granted, about a 50% rise over what he received the year before, according to a Securities and Exchange Commission filing.

Some are entrepreneurs who built their companies from the ground up, turning one idea into a billion-dollar global empire. Some came up through the ranks, earning the trust and admiration of those around them with each passing year. And still others came in later — hired guns — bringing with them an expertise and skill set that sets them apart. All are alike in their ability to create new opportunities and take their businesses to the next level — no easy feat in today’s marketplace.

Seems everyone has felt the economic crisis in his wallet. Unemployment remains high, wages are low, and salaries are frozen. Even C-level executives saw little if any upward mobility in salaries from 2008 to 2009.

Of course, middle managers and hourly workers might argue that living on a seven-figure salary, even in a crisis economy, doesn’t compare with living on a budget in mainstream America. Compounding the pain is the perception that incomes are fixed, with little opportunity to increase personal earnings.