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Federated Announces New Division Management

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Federated Department Stores, Inc. announced a series of new division senior management appointments, effective Feb. 1, 2006, as the company integrates its Macy's divisions following the acquisition of The May Department Stores Company, which was completed Aug. 30, 2005. "Enhancing our company's already strong talent pool was a key objective of the May acquisition and today's announcements are a clear indication that we have made great strides in that regard," said Terry J. Lundgren, the company's chairman, president and chief executive officer. "By retaining experienced executives from the May Company organization and combining their skills with Federated's existing division leadership, we will strengthen our Macy's divisions as we grow to serve customers in new geographic regions across the country." Macy's department store divisions: -- Daniel H. Edelman will become president and chief operating officer of San Francisco-based Macy's West. Currently, he is chairman and chief executive officer of Macy's Northwest in Seattle. -- Jeff Gennette will become chairman and chief executive officer of Macy's Northwest. Currently, he is executive vice president and director of stores at Atlanta-based Macy's Central. -- Robert B. Harrison will become president and chief operating officer of Macy's Northwest. Currently, he is chairman of Robinsons-May in Los Angeles. -- Andrew P. Pickman will become president and chief merchandising officer of Atlanta-based Macy's South. Currently, he is president and chief executive officer of Foley's in Houston. -- Michael G. Krauter will become vice chairman and director of stores at Macy's South. Currently, he is president and chief merchandising officer of Macy's Central in Atlanta. -- John T. Harper will become vice chairman and director of stores at Macy's Midwest in St. Louis. Currently, he is chairman of Hecht's/Strawbridge's. -- Frank J. Guzzetta will become chairman and chief executive officer of Minneapolis-based Macy's North. Currently, he is president and chief executive officer of Marshall Field's. -- Robert M. Soroka will become president and chief operating officer of Macy's North. Currently, he is chairman of Marshall Field's. These executives are in addition to the previously announced leadership team at the new Macy's Midwest division, based in St. Louis - William P. McNamara, chairman and chief executive officer, and Brian L. Keck, president and chief operating officer. "Our management team is exceptional both as individuals and as a group," said Federated Vice Chair Susan D. Kronick, to whom all of the company's department stores divisions report. "The combination of viewpoints from Federated and May Company will bring fresh ideas and additional energy to our Macy's brand, along with a continuing determination to improve our offering for our core customer." Macy's Home Store: Jeffrey A. Kantor will become president for furniture at Macy's Home Store, a new position based in New York and reporting to Timothy M. Adams, the division's chairman and chief executive officer. Currently, Kantor is president and chief executive officer at Hecht's/Strawbridge's in Arlington, VA. "Jeff Kantor is a skilled retailer and merchant who can bring additional insight and merchandising expertise to Macy's furniture business as we expand our offering to former May Company locations," said Federated Vice Chair Janet E. Grove, to whom Macy's Home Store reports. "We look forward to strengthening our big-ticket home business in the seasons ahead with furniture that reflects the lifestyles of our core customers across the country." Management Bios: Edelman, 56, succeeds Michael J. Osborn, who was named president and chief operating officer of the Macy's Home Store division in August 2005. A native of New York, Edelman has served as chairman of Macy's Northwest since March 1998 and previously as president of the division since February 1997. Prior to that, he spent six years as vice chairman for finance and operations at Macy's West. He began his career in 1976 as an assistant accounting manager with Macy's in New York. A graduate of Temple University with an MBA from Long Island University, Edelman and his wife, Kay, will be relocating to San Francisco. Gennette, 44, has been Macy's Central executive vice president and director of stores since March 2004. Previously, he served as senior vice president/general merchandise manager for men's and children's at Macy's West in San Francisco since May 2001, and before that vice president/division merchandise manager for men's collections at Macy's West. Gennette joined Macy's West in 1983 as an executive trainee and held various merchant and store management positions in that division. During his career, Gennette also has served as a store manager for FAO Schwartz and director of stores for Broadway Stores. A native of San Diego, Gennette is a graduate of Stanford University with a degree in English. He will be relocating to Seattle with his partner, Geoff Welch, and daughter. Harrison, 42, has been chairman of Robinsons-May since October 2004, having previously served as the division's senior vice president and chief financial officer since June 2002, as well as the senior vice president for finance of the Meier & Frank division before it was merged with Robinsons-May. A native of Pittsburgh, Harrison began his career at the Kaufmann's division in 1986 as an accounting analyst and served in positions of increasing responsibility before becoming vice president and controller of Kaufmann's. Harrison holds a degree in finance from Pennsylvania State University and an MBA from the University of Pittsburgh. He and his wife, Susan, and two children will be relocating to Seattle. Pickman, 54, has served as president of Foley's since May 2002. Previously, he was president of May Company's Pittsburgh-based Kaufmann's division and senior vice president and general merchandise manager for ready-to-wear at May Merchandising Corporation. Pickman joined Filene's, then a division of Federated, in 1975 as an assistant buyer for children's. He rose through increasingly senior merchant positions to become the senior vice president and general merchandise manager for cosmetics, men's and young men's at the combined Filene's/Kaufmann's division. A native of Wethersfield, CT, Pickman holds a degree in business administration from Boston University. He and his wife, Cindy, and two children will be relocating to Atlanta. Krauter, 48, has served as president of Macy's Central since February 2004. Previously, he was executive vice president and director of stores for the division (previously known as Rich's/Lazarus/ Goldsmith's). Krauter, a native of Roselle, NJ, began his retail career as a sales manager at Macy's East in New York in 1979, rising through merchant and store management positions before moving to Macy's South-Bullock's as vice president/merchandise administrator in 1988. Krauter returned to Macy's East in 1992 as a group vice president of merchandising, and was named senior vice president of merchandising in 1993. He became a general merchandise manager at Macy's West and was promoted to that division's executive vice president for merchandising prior to moving to Atlanta in 2001. Krauter is a graduate of Rutgers University with a degree in business administration. He lives in Roswell, GA, with his wife, Yvonne, and three children. Harper, 46, has been chairman of Hecht's/Strawbridge's since 2004. Previously, he served as the Hecht's/Strawbridge's division's senior vice president/finance, senior vice president/operations and vice president/profit management. Harper joined May Company at its Kaufmann's division in 1983. He held numerous accounting, strategic planning, and financial positions at the Kaufmann's, L.S. Ayres, and Famous-Barr divisions prior to joining Hecht's as vice president and controller in 1993. Harper received a degree in communications and political science and an MBA in finance - both from the University of Pittsburgh. A native of Pittsburgh, Harper and his wife, Janet, have two children. Guzzetta, 60, became president of Marshall Field's in January 2005 after serving as president and chief executive officer of the Hecht's/Strawbridge's division since 2000. He joined Hecht's in 1988 as a divisional vice president and divisional merchandise manager before being promoted to senior vice president and general merchandise manager and, later, executive vice president of merchandising. Prior to joining May, he worked in retailing for 11 years at Woodward & Lothrop. A native of Quincy, MA, Guzzetta received a B.S. degree in marketing from the University of Massachusetts-Amherst and an MBA degree from the University of Michigan. He lives in Minneapolis. Soroka, 53, has been chairman of Marshall Field's since October 2004. Previously, he was chairman of Robinsons-May in Los Angeles and, before that, the division's senior vice president/chief financial officer. Soroka joined May in 1970 at O'Neil's, May Company's former department store division headquartered in Akron, Ohio. From 1983 through 1990 he held increasingly responsible financial and credit positions at three additional May department store divisions. A native of Akron, Mr. Soroka graduated from the University of Akron with a degree in accounting. He and his wife, Connie, live in Minneapolis and have two grown children. Kantor, 46, has been president of Hecht's/Strawbridge's since November 2004. Previously, he served as senior vice president and general merchandise manager for cosmetics, accessories, dresses, suits, intimate apparel and hosiery at the Boston-based Filene's/Kaufmann's division. A native of Belmont, MA, Kantor joined Filene's, then a division of Federated, in Boston in 1981 as an assistant buyer for men's. He progressed through merchant position of increasing responsibility, including division vice president and divisional merchandise manager for men's furnishings, men's clothing and outerwear. For two years in the mid-1990s, Kantor was divisional vice president for men's furnishings at TJ Maxx. Kantor is a graduate of the University of Massachusetts-Amherst with a degree in business administration. He and his wife, Raelin, and three children will be relocating to New York. Federated, with corporate offices in Cincinnati and New York, is one of the nation's premier retailers, with 2004 sales of more than $15.6 billion. With the May Company's more than 490 department stores and more than 720 bridal and formalwear stores in 49 states, the District of Columbia and Puerto Rico, Federated operates about 950 department stores and more than 720 bridal and formalwear stores in 49 states, the District of Columbia, Guam and Puerto Rico under the names of Macy's, Bloomingdale's, Famous-Barr, Filene's, Foley's, Hecht's, Kaufmann's, Lord & Taylor, L.S. Ayres, Marshall Field's, Meier & Frank, Robinsons-May, Strawbridge's, The Jones Store, David's Bridal, After Hours Formalwear and Priscilla of Boston. The company also operates macys.com and Bloomingdale's By Mail.

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