NEW YORK--Macy’s, Inc. (NYSE:M) today was presented with the prestigious Muriel F. Siebert Leadership Award for extraordinary diversity of its board of directors by the Women’s Forum of New York. The award was accepted by Terry J. Lundgren, chairman and chief executive officer of Macy’s, Inc.
An audience of more than 650 corporate executives, public company directors and opinion leaders gathered in Manhattan to honor Macy’s, Inc. and those 27 other companies among the Fortune 1000 and S&P 500 with boards of directors comprised of more than 40 percent women.
Macy’s, Inc. is considered to have among the strongest and most diverse boards in Corporate America. Currently, six of Macy’s directors are women (43 percent of the total board of 14 members). Among Macy’s directors are four members who are ethnic minorities (Black, Hispanic and Asian-American).
“Macy’s is a company that demonstrates that having directors with a range of experiences and perspectives leads to better decisions and governance for all of our stakeholders,” said Joyce M. Roché, an independent director who chairs the Macy’s board’s Nominating and Corporate Governance Committee, in introducing Lundgren for the award. “Terry Lundgren has been a strong leader whose commitment and leadership have made Macy’s a model that inspires other companies.”
“We are very proud of the strength of experience and knowledge that each of our directors brings to the board table. They help our business to reflect our very diverse marketplace of customers, of whom about 70 percent are women,” Lundgren said. “Our directors constantly challenge us to be a better company with a long-term view for serving emerging customer needs and creating shareholder value. Diversity at every level is a strength of Macy’s, Inc., and we are proud of the guidance we receive from these extraordinary individuals. Through this award today, all public companies are encouraged to accelerate progress in making boards more diverse.”
The Muriel F. Siebert Award was named for the first woman (in 1967) to own a seat on the New York Stock Exchange. Siebert was also the first woman to head one of the NYSE member companies.
Macy’s, Inc., with corporate offices in Cincinnati and New York, is one of the nation’s premier retailers, with fiscal 2014 sales of $28.105 billion. The company operates about 900 stores in 45 states, the District of Columbia, Guam and Puerto Rico under the names of Macy’s, Bloomingdale’s, Bloomingdale’s Outlet, Macy’s Backstage and Bluemercury, as well as the macys.com, bloomingdales.com and bluemercury.com websites. Bloomingdale’s in Dubai is operated by Al Tayer Group LLC under a license agreement.
All statements in this press release that are not statements of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon the current beliefs and expectations of Macy’s management and are subject to significant risks and uncertainties. Actual results could differ materially from those expressed in or implied by the forward-looking statements contained in this release because of a variety of factors, including conditions to, or changes in the timing of, proposed transactions, prevailing interest rates and non-recurring charges, competitive pressures from specialty stores, general merchandise stores, off-price and discount stores, manufacturers’ outlets, the Internet, mail-order catalogs and television shopping and general consumer spending levels, including the impact of the availability and level of consumer debt, the effect of weather and other factors identified in documents filed by the company with the Securities and Exchange Commission. In light of these risks and uncertainties, readers are cautioned not to place undue reliance on forward-looking statements. Except as may be required by applicable law, Macy’s disclaims any obligation to update its forward-looking statements for any reason.
(NOTE: Additional information on Macy’s, Inc., including past news releases, is available at www.macysinc.com/pressroom)