8-K
filed April 10, 2024, 7:59 PM ET
ticker M
CIK 0000794367
other material
confidence high
sentiment neutral
materiality 0.70
Macy's adds two Arkhouse nominees to board, forms finance committee to evaluate buyout proposal
Macy's, Inc.
- Richard Clark and Richard Markee appointed to board effective April 10; Arkhouse withdraws proxy contest.
- Tony Spring assumes role of Chairman; Douglas Sesler also appointed independent director.
- Board increases to 15 directors; Finance Committee will oversee Arkhouse/Brigade acquisition proposal.
- Arkhouse agrees to standstill until 15 days before 2025 annual meeting nomination period.
- Company continues providing due diligence info to Arkhouse and Brigade; Board remains open-minded on value creation.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Tony Spring was appointed as Chairman of the Board at Macy's, Inc..
- Action
- appointed
- Role
- Chairman of the Board
Exact text from the filing
Upon Mr. Gennette’s resignation, and in accordance with the Company’s previously announced changes to its Board, Tony Spring, Chief Executive Officer and Chairman-elect of the Company, was appointed Chairman of the Board effective immediately.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Richard Markee was appointed as Director at Macy's, Inc..
- Action
- selected
- Role
- Director
Exact text from the filing
Pursuant to the Arkhouse Agreement, on April 10, 2024, Messrs. Clark and Markee were selected as directors with a term expiring at the Company’s 2024 Annual Meeting.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Francis S. Blake retired as Director at Macy's, Inc..
- Action
- retired
- Role
- Director
Exact text from the filing
On April 10, 2024, Francis S. Blake retired from the Board and from his positions as Chair of the Finance Committee and member of the Compensation & Management Development Committee, effective immediately.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Richard Clark was appointed as Director at Macy's, Inc..
- Action
- selected
- Role
- Director
Exact text from the filing
Pursuant to the Arkhouse Agreement, on April 10, 2024, Messrs. Clark and Markee were selected as directors with a term expiring at the Company’s 2024 Annual Meeting.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Jeff Gennette retired as Chairman of the Board at Macy's, Inc..
- Action
- retired
- Role
- Chairman of the Board
Exact text from the filing
On April 10, 2024, Jeff Gennette retired from the Board and from his position as Chairman of the Board, effective immediately.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Douglas W. Sesler was appointed as Director at Macy's, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
On April 10, 2024, the Company also appointed Douglas W. Sesler to the Board with a term expiring at the Company’s 2024 Annual Meeting.
View on SEC.gov
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