– USA, NY – Macy’s, Inc. (NYSE: M) today announced the nomination of Doug Sesler for his election to the Board of Directors at the 2024 AGM.
“Doug will bring to our Board a unique combination of experience at real estate investment and financial services firms, along with an intimate understanding of our company and its real estate asset. He has a long track record of success in leading and implementing value-generating real estate portfolio management strategies and transactions. I am confident Doug’s skill sets will complement those of our other directors and advance our efforts to unlock value for our shareholders as we advance A Bold New Chapter strategys,” said Chairman and CEO, Tony Spring.
The company also announced that Francis Blake will not stand for reelection at the AGM.
About Douglas W. Sesler
Doug Sesler is a seasoned real estate industry executive with more than 35 years of experience across real estate advisory, investing, and finance. In 2021, he founded Fair Street Partners, a private real estate investment and development platform, where he currently serves as President, actively investing in real estate developments, including conversion of retail real estate for alternative use, and acts as a financial advisor related to real estate investments and restructurings. Previously, he served as Head of Real Estate for Macy’s, Inc., where he was responsible for the Company’s real estate portfolio totaling over 100 million square feet and the monetization and development of over $2 billion of real estate.
Doug Sesler also held various leadership roles at True Square Capital, Bank of America Merrill Lynch, including head of global real estate principal investments and co-head of real estate investment banking, Citigroup, including managing director of global real estate investment banking, Travelers Realty Investment Company and Chemical Bank (now J.P. Morgan).
Doug Sesler said, “I’m excited about the prospect of joining the Macy’s, Inc. Board as the company embarks on its new strategy. I have great appreciation for the company’s efforts to deliver a preeminent shopping experience to its customers across all three nameplates while taking action to accelerate growth and enhance shareholder value. I look forward to working alongside the company’s other directors and leadership team in driving Macy’s, Inc. to a brighter future.”
About Douglas W. Sesler
Douglas W. Sesler, 62, is the founder and president of Fair Street Partners, a private real estate investment and development platform. Before that, Sesler served as Head of Real Estate for Macy’s, Inc. from 2016 to 2021, where he was responsible for the Company’s real estate portfolio totaling over 100 million square feet and the monetization and development of over $2 billion of real estate. Prior to joining Macy’s, Inc., Sesler was president of True Square Capital, a real estate investment and advisory firm, from 2011 to 2016. Sesler held various roles at Bank of America Merrill Lynch from 2005 to 2011, including co-head of global real estate principal investments managing an $8 billion portfolio of opportunistic real estate for the firm’s balance sheet and for third party fund investors. Earlier in his career, Sesler held leadership roles at Citigroup, including managing director of the global real estate investment bank group, Travelers Realty Investment Company and Chemical Bank (now J.P. Morgan). Sesler has served on the board of Urban Edge Properties, a NYSE-listed real estate investment trust, since 2020. He also serves on the Advisory Board of Hodes Weil & Associates, a real estate focused capital advisory firm, and has been a member of The Real Estate Roundtable, The Urban Land Institute, NAREIT, and the ICSC. Sesler earned a bachelor’s degree in government from Cornell University.
About Macy’s, Inc.
Macy’s, Inc. is a trusted source for quality brands through our iconic nameplates – Macy’s, Bloomingdale’s and Bluemercury. Headquartered in New York City, our comprehensive digital and nationwide footprint empowers us to deliver a seamless shopping experience for our customers.
SOURCE: macysinc.com.
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