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The TJX Companies, Inc. Announces Senior Management Changes To Position Company For Future Growth

Stocks in this article: TJX

The TJX Companies, Inc. (NYSE:TJX) today announced several senior management changes to better position the Company for future growth. Michael MacMillan, 55, will assume leadership of the Company’s European division as Senior Executive Vice President, TJX Europe, moving from his current post as head of The Marmaxx Group (the Company’s largest division comprised of T.J. Maxx and Marshalls). Richard Sherr, 54, will return to The Marmaxx Group as Senior Executive Vice President, having most recently held the post of President, HomeGoods.

Ernie Herrman continues as TJX President, a title he assumed in February 2011, and will continue to report to Carol Meyrowitz, Chief Executive Officer of The TJX Companies, Inc. as will Jeffrey Naylor, Senior Executive Vice President, Chief Financial and Administrative Officer. Michael MacMillan will continue to report to Mr. Herrman in his new role as head of TJX Europe. Nan Stutz, Senior Executive Vice President, Group President, will also continue to report to Mr. Herrman. Ms. Stutz will continue to have responsibility for TJX Canada and HomeGoods. Richard Sherr, in his new role as Senior Executive Vice President, The Marmaxx Group, will now report to Mr. Herrman. Further, Senior Executive Vice President Jerome Rossi, whose responsibilities include real estate, logistics, procurement and e-commerce, will continue to report to Mr. Herrman.

Carol Meyrowitz, Chief Executive Officer of The TJX Companies, Inc. stated, “I am extremely confident that these management changes are the right moves at the right time to position TJX to reach our vision of growing to a $40 billion Company. We have a seasoned TJX executive heading each of our four major businesses, The Marmaxx Group, HomeGoods, TJX Canada and TJX Europe, all reporting to Ernie Herrman, our President. Separately and collectively, this team, along with Jeff Naylor and Jerry Rossi, brings amazing talent, knowledge, and the ability to take TJX to our next level of successful growth and beyond.”

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