|Anne MacDonald has left Citibank to become chief marketing officer and president at Federated Department Stores.
At Federated, Ms. MacDonald becomes chief marketing officer as well as president-Macy’s corporate marketing division, according to a statement issued by the Cincinnati-based company today.
Building up Macy’s
Federated, led by CEO Terry Lundgren, is in the midst of building its flagship Macy’s stores into a national brand. Federated merged with May Co. in August, and this fall about 400 May store locations will be converted to Macy’s, bringing the number of department stores operated by Federated as Macy’s to 800.
Ms. MacDonald -- most recently CMO of Citi’s global consumer group -- succeeds Peter Sachse, who is moving to chairman-CEO of Federated’s Macys.com.
In recent months, Federated has revamped its agency lineup. Last week, the company handed its $200 million-plus national media-buying account to Publicis Groupe’s Starcom. In addition, the company recently dropped creative agency Lowe, New York (part of Interpublic Group of Cos.). And in early February, Federated hired WPP Group’s JWT, Chicago, after a lengthy review.
Ms. MacDonald, 50, brings a wide range of marketing and advertising experience. She joined Citibank in 1997 as managing director-global branding and communications and was promoted to CMO for the consumer group in December 2004. Prior to Citibank, she was VP-brand management at Pizza Hunt, a unit of PepsiCo. Earlier in her career, Ms. MacDonald worked in account management at now-defunct N.W. Ayer as well as Grey Advertising, now part of WPP Group.
Her predecessor at Macy’s, Mr. Sachse, has been president of Macy’s corporate-marketing group since June 2003. In his new role at Macys.com, Mr. Sachse will manage the Macy’s brand online business and will reinforce the integration of the brand’s website with its retail stores.
Federated today reported fourth-quarter earnings per share for the period ended Jan. 28 of $2.45, on sales of $9.571 billion, compared with $2.55 per share, on sales of $5.120 billion, for the same period one year ago. For the full fiscal year 2005, earnings per share were $6.32, on sales of $22billion, a 41.9% increase over the $3.86 per share reported last year. Sales for 2004 were $15 billion. Same-store sales in the fourth quarter rose 1.1% compared to the prior quarter. For all of 2005, same-store sales rose 1.3%.
Both Ms. MacDonald and Mr. Sachse report directly to Mr. Lundgren, Federated’s chairman and president-CEO. Ms. MacDonald is slated to begin her new job in late March.