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    Ernie Herrman

    Chief Executive Officer and President at TJX Companies Inc
    Board
    Since January 2016
    Age
    63 years
    Tenure
    Has been with TJX since 1989, progressing from merchandising roles to executive leadership with promotions including Executive Vice President, President in January 2011, and Chief Executive Officer in January 2016.

    Also at TJX Companies Inc

    DM
    Douglas Mizzi
    Senior Executive Vice President, Group President
    JK
    John Klinger
    Senior Executive Vice President and Chief Financial Officer
    KC
    Kenneth Canestrari
    Senior Executive Vice President, Group President

    About

    Ernie Herrman began his long association with TJX in 1989, starting in various merchandising roles that set the foundation for his impressive career in retail. Over the years, he assumed increasing levels of responsibility and demonstrated strong leadership capabilities that contributed to his upward mobility within the company.

    His career trajectory includes serving as Executive Vice President of Merchandising from 2001 to 2004, Senior Executive Vice President, Chief Operating Officer of Marmaxx from 2004 to 2005, and President of Marmaxx from 2005 to 2008. He further advanced to the role of Senior Executive Vice President, Group President overseeing Marmaxx, HomeGoods, and TJX Canada from 2008 to 2011.

    Since January 2011, he has served as President of TJX and was named Chief Executive Officer in January 2016, with his leadership steering the company through dynamic market conditions. Although personal background and educational details are not provided, his extensive experience in off-price retail and strategic management has been central to the company's growth and global success.

    $TJX Performance Under Ernie Herrman

    Past Roles

    OrganizationRoleDate RangeDetails
    TJX Senior Executive Vice President, Group President August 2008 - January 2011 Responsible for Marmaxx, HomeGoods, and TJX Canada
    TJX President of Marmaxx 2005 - 2008 N/A
    TJX Senior Executive Vice President, Chief Operating Officer, Marmaxx 2004 - 2005 N/A
    TJX Executive Vice President, Merchandising, Marmaxx 2001 - 2004 N/A
    TJX Various Senior Merchandising Positions 1989 - 2004 N/A

    Fixed Compensation

    Data from  FY 2024
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary$1,700,000 FY24 Year-EndAnnual salary for FY24.
    Employer Contributions/Credits Under Savings Plans$604,971 As per planMatching contributions under the 401(k) and ESP credits.
    Company-Paid Amounts for Life Insurance$1,890 N/AUnder the U.S. management life insurance program.
    Automobile Benefit$36,594 N/AAutomobile allowance commensurate with his position.
    Other Perquisites and Personal Benefits$3,000 N/AFinancial planning reimbursement for FY24.

    Performance Compensation

    Data from  FY 2024

    Management Incentive Plan (MIP)

    MetricValueAdditional Details
    Performance MetricIncentive Pre-Tax Income Operational performance measurement.
    Threshold$4,311,644 (75% of target) Minimum level for payout.
    Target$5,748,917 (100%) Base target for incentive.
    Maximum$6,707,100 (117% of target) Cap on performance measurement.
    Actual Performance$6,418,494 (111.6% of target) Achieved results for FY24.
    Payout Percentage169.9% Resulting in an actual payout of $5,887,696.
    Evaluation PeriodFY24 (53-week year) Single fiscal period for assessment.
    VestingN/A (Cash-based plan)No vesting; payout is cash.

    Long Range Performance Incentive Plan (LRPIP)

    MetricValueAdditional Details
    Performance MetricIncentive Pre-Tax Income (FY24-26 cycle) Measures longer-term operational performance.
    Threshold50% of target Minimum threshold for any payout.
    Target100% of target Base performance target.
    Maximum150% of target Maximum performance level.
    Payout Range0% to 200% Variable payout based on performance.
    Grant DateMarch 28, 2023 Date when the award was granted.
    Grant Date Fair Value$1,700,000 Target value of the LRPIP award.
    Grant Date Stock Price$76.21 Closing price on grant date.
    Vesting ScheduleService-based through FY26Continued employment required; payout in March/April 2027.

    FY22-24 Performance Share Units (PSU) Award

    MetricValueAdditional Details
    Performance MetricIncentive EPS (and ROIC) EPS targets with ROIC modifier.
    EPS Threshold$2.18 (75% of target) 25% payout at threshold.
    EPS Target$2.91 (100%) Base EPS target.
    EPS Maximum$3.88 (133% of target) Maximum payout level at EPS.
    Actual EPS Performance$3.60 (123.7% of target) Resulting in a payout of 171.1%.
    ROIC RequirementThreshold below 21% reduces payout by 20%; Actual: 32.2% No reduction applied as target met.
    Target PSU Units73,500 Baseline unit award.
    Actual PSU Units Awarded125,759 Award adjusted by performance multiplier.
    Grant DateMarch 2021 Award’s grant date.
    Vesting DateApril 2, 2024 Vested upon performance review.

    FY24-26 PSU Award (Equity Awards - PSUs)

    MetricValueAdditional Details
    Performance MetricIncentive EPS Growth & ROIC Modifier Aligns with long-range EPS growth.
    EPS Threshold85% of target (25% payout) Minimum payout level.
    EPS Target100% of target (100% payout) Base performance level.
    EPS Maximum112% of target (200% payout) Maximum stretch target.
    Units Granted (Threshold/Target/Maximum)21,454 / 85,816 / 171,632 Award unit breakdown.
    Grant DateMarch 28, 2023 Award’s grant date.
    Grant Date Fair Value$6,540,037 Valuation at grant.
    Grant Date Stock Price$76.21 Stock price on grant date.
    Vesting ScheduleService-based and performance-based
                                | Continued employment through FY26; vesting upon approval in March/April 2026.  **[0000109198-24-000023_tjx-20240424.htm:42]** **[0000109198-24-000023_tjx-20240424.htm:59]**  |