Robert Chavez
Macy'sAbout Robert B. Chavez
Independent director of Macy’s, Inc. appointed effective April 1, 2025; age 70, member of the Audit Committee. Former President & CEO of Hermès Americas (2000–2025) and prior CEO of Etienne Aigner; earlier merchandising leadership at Bloomingdale’s and Macy’s. Brings deep luxury retail, merchandising, and omnichannel expertise; Board designated him independent under NYSE and Macy’s standards.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Hermès Americas | President & CEO | 2000–2025 | Grew e-commerce, expanded product portfolio and added 20 U.S. boutiques; Americas revenue ~$1.8B in 2021. |
| Etienne Aigner Group, Inc. | Chief Executive Officer | 1992–2000 | Led manufacturing, wholesale and global retail operations. |
| Macy’s, Inc. | President, Merchandising | 1992 | Merchandising leadership (brief role in 1992). |
| Macy’s, Inc. | Senior Vice President | 1988–1992 | Merchandising leadership. |
| Macy’s, Inc. | Vice President, Divisional | 1986–1988 | Merchandising leadership. |
| Bloomingdale’s, Inc. | Manager, Merchandise, Divisional | 1977–1986 | Began retail career via Executive Development program; divisional merchandising roles. |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| — | — | — | Macy’s proxy lists zero current public company boards for Chavez. |
Board Governance
- Board status: Independent director; appointed April 1, 2025.
- Committee assignments: Audit Committee member; Audit chair is Marie Chandoha; all Audit members independent and financially literate.
- Lead Independent Director: Paul C. Varga; robust duties include agenda input, executive sessions, and shareholder liaison.
- Independence determination: NCG Committee reviewed relationships; Chavez qualifies as independent under NYSE and Macy’s standards.
- Attendance: Company reports 95%+ attendance for directors serving in fiscal 2024, but Chavez joined in 2025 (no FY24 attendance to report).
Fixed Compensation (Non-Employee Director Program)
| Component | Amount | Notes |
|---|---|---|
| Annual Board retainer (cash) | $90,000 | Standard for non-employee directors. |
| Committee member retainer (non-chair) | $10,000 | Per committee membership. |
| Committee chair retainer | $30,000 (Audit); $25,000 (other) | Audit chair $30k; other committees $25k. |
| Lead Independent Director retainer | $30,000 | Additional retainer for LID. |
| Equity grant (RSUs) | $160,000 targeted value | Time-based; typically vests at earlier of 1-year or next annual meeting; new mid-year appointments may receive pro-rated grants per practice. |
| Philanthropic match | Up to $500 annually | Matching gift program. |
2024 Director Compensation Table excluded Chavez because he did not serve during fiscal 2024.
Performance Compensation (Directors)
| Feature | Details |
|---|---|
| Performance-linked pay | Not applicable — director equity grants are time-based RSUs, not performance-conditioned. |
Other Directorships & Interlocks
| Company | Role | Committee Roles | Overlap/Interlock Risk |
|---|---|---|---|
| None disclosed | — | — | Proxy lists 0 current public company boards for Chavez. |
Expertise & Qualifications
- Luxury and omnichannel retail leadership (Hermès Americas CEO; Etienne Aigner CEO).
- Deep merchandising and brand-building experience from Bloomingdale’s and Macy’s.
- Sales, marketing, and e-commerce expansion credentials (Hermès early e-commerce; boutique expansion).
- Audit Committee member indicating finance and oversight capability (committee composed of independent, financially literate members).
Equity Ownership
| Item | Status |
|---|---|
| Beneficial ownership (within 60 days of 3/20/2025) | No beneficial ownership listed for Chavez; less than 1%. |
| Director stock unit credits (as of 3/20/2025) | None reported for Chavez. |
| Director ownership guideline | 5x annual cash retainer ($450,000) within 5 years of joining the Board. |
| Hedging/Pledging | Prohibited for directors; strong anti-hedging/anti-pledging policy. |
Governance Assessment
-
Strengths
- Independence and fresh luxury retail expertise aligned with Macy’s “Accelerate and Differentiate Luxury” pillar; appointed to Audit, reinforcing financial oversight bench.
- Robust board governance architecture (annual elections, majority voting, proxy access, executive sessions) supports effective oversight.
- Director pay mix emphasizes equity (time-based RSUs) with peer-aligned structure; anti-hedging/pledging and ownership guidelines align interests with shareholders.
- Shareholder support context: 2024 say-on-pay passed with 91.9% approval, indicating general investor confidence in compensation governance.
-
Potential watch items
- Related-party risks appear low: Board’s annual independence screening found no disqualifying relationships; no related person transactions in FY2024; nonetheless, Chavez’s prior employment at Macy’s decades ago is historical and disclosed.
- Limited current public board experience (0 current boards) could reduce interlock/conflict risk but also means less concurrent public board governance exposure; mitigated by extensive operator track record.
-
RED FLAGS
- None identified specific to Chavez: no pledging, no hedging, no related-party transactions disclosed; independence affirmed.
Appendix: Company-Level Governance and Compensation Context (relevant to board effectiveness)
- Audit Committee: 16 meetings in FY2024; all members independent; Chandoha designated financial expert; scope includes cybersecurity risk oversight.
- NCG and CMD committees entirely independent; regular board/committee self-evaluations and CEO succession planning.
- Clawback policy compliant with NYSE/SEC rules; 2023 STI clawback executed after accounting corrections; demonstrates enforcement.
- Shareholder engagement: outreach to holders representing ~58% of shares; positive feedback on governance and disclosures.