Federated Department Stores Inc promoted Chief Financial Officer Karen Hoguet from senior vice president to executive vice president, effective June 1.
The promotion was made to recognize her growing responsibilities in the pending merger with May Department Stores Co., Federated said in a release.
Federated Department Stores announced Feb. 27 plans to acquire May for about $11 billion, subject to regulatory approval. The merger is expected to close in the third quarter.
The company also said that Ronald Tysoe, 52, vice chairman of real estate and finance, will postpone his planned retirement for up to two years to concentrate on integrating May into Federated.
Hoguet, 48, previously reported to Tysoe. She now will report directly to Terry Lundgren, Federated’s chairman, president and chief executive, the company said. She also will assume responsibility for the company’s area research functions, which previously reported to Tysoe. The company’s real estate function also will move from Tysoe to oversight by Federated Vice Chair Thomas Cole.
Hoguet has been with Federated since 1982. She was named to her current post in 1997. Tysoe has been a vice chairman of Federated since 1990. He was the retailer’s chief financial officer from 1990 to 1997.
Federated, with corporate offices in Cincinnati and New York, operates more than 450 stores in 34 states, Guam and Puerto Rico under the names Macy’s and Bloomingdale’s.
The St. Louis-based May Department Stores Co. operates 490 department stores, as well as 240 David’s Bridal stores, 450 After Hours Formalwear stores, 11 Priscilla of Boston stores in 46 states, the District of Columbia and Puerto Rico.