Macy’s revealed Monday evening that it has begun a search for a CEO to lead the 157 store-plus BlueMercury cosmetics chain. The brand’s co-founder and Chief Operating Officer Barry Beck will leave the company on Sept. 20 to pursue an undisclosed new venture. Beck’s wife and co-founder Marla Beck will stay on through a transition period.
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No surprise. Eventually the Becks will start a new, fresh business and Macy's will eventually let Bluemercury languish. Did anyone see the commercial with J.G.? Leaves one a little chilly...
https://www.bizjournals.com/cincinnati/news/2019/09/17/macy-s-bluemercury-leaders-exit.html
“Bluemercury has experienced robust growth since becoming a part of Macy’s Inc. in 2015, in large part due to the vision and leadership of Marla and Barry Beck,” Macy’s chairman and CEO Jeff Gennette said in a statement. “We will continue to leverage Bluemercury’s successful formula to learn from and drive growth.”
Barry Beck said since Bluemercury has joined Macy’s it has scaled its neighborhood model across the country while remaining at “the forefront of beauty innovation.”
Macy's proper needs a new CEO. It's time for J.G. to be shown the door.
Macy’s stock dove 5% on the news of Barry Beck’s departure. And that is the correct market reaction — it’s yet another bad look for a company that is stringing up major losses this year.