1 Answer | Add Yours
Terry Lundgren, Chairperson, President, and CEO of Macy's Inc., has been at the Presidential chair of the Macy's corporation since 1997. Among additional functions, he has served as Chief Operating Officer of the company and became its official CEO in 2004.
As one of the major, if not the biggest, retailer in the Continental USA, Macy's has not only its productivity, but its reputation at stake as it is one of America's most repeated household names. Hence, to place someone like Lundgren in not one, but at the top of the three most important ranks within the organization denotes not only capacity to lead, but also consistent and tired-less efforts to ensure top quality service, a consistent supply/demand ratio, and a systems-wide ongoing assessment of quality assurance.
In a dramatic contrast to other major American retailers such as Walmart, Kohl's and K-Mart, Macy's does not sacrifice quality in order to provide lower prices. Yet, the demand is clear and the clientele is loyal enough that, regardless of the economy, Macy's is one of the most consistent retailers in terms of functionality and production.
All this tells a lot about the leader or leaders of this organization, and it comes to no surprise to look into the biography of Terry Lundgren and find that the most salient traits of his personality are:
- ambition- Lundgren is a self-made billionaire and one of six children.
- charisma- Lundgren is one of the very few CEO's that openly speaks to reporters on National TV
- availability- same as above
- flexibility- Lundgreen was known to push forward the schedule at Macy's to meet demand from customers on Black Friday and other specific days of the week, moving sales to highest dividends in 2012 alone.
- process-centered- Macy's, as the parent corporation of Bloomingdales operates through a boards system where everyone has a specific role.
- extroverted, agreeable, creative, multifunctional
- selfless *philanthropic)
Terry Lundgren is different than many CEOs in that he has been the most awarded not only with social recognition awards for his philanthropy work, but also with the Gold Medal of the National Retailers Award in 2008. This was a special award because this was a year when Macy's first saw a slight but steady decline in the market as a result of the dwindling economy. However, Lundgren's strategic maneuvers concerning the corporation's dividends reverted the losses and maintained the prosperity of the company.
Therefore, it safe to conclude that a corporation is as good as its leader and directly reflect their personalities: a steady, quality, trustworthy corporation must come from a good source.
We’ve answered 317,809 questions. We can answer yours, too.Ask a question