Macy’s Inc. appointed Naveen Chopra, executive vice president and chief financial officer of Paramount Global, to its board of directors, effective April 1, 2023.
In his current role, Chopra oversees Paramount Global’s financial operations and global corporate development and strategy. Previously, Chopra was a chief financial officer of Amazon’s Devices and Services Business, responsible for some of Amazon’s strategic consumer businesses, including Alexa and Echo, FireTV, Ring, Kindle, and the Amazon Appstore. Chopra has also successfully executed corporate transformations as chief financial officer of Pandora Media and TiVo Corporation.
“Naveen brings impressive experience at the intersection of digital innovation and financial growth to our board,” said Jeff Gennette, chairman and chief executive officer of Macy’s, Inc. “His career as a CFO spans consumer, technology and media companies, and we are confident his insights will be highly relevant to us as we build on our position as a digitally-led, modern department store. We look forward to his contributions to our board.”
The company also announced that John Bryant and Leslie Hale, who have served on the board since 2015, will not stand for re-election at the company’s 2023 annual meeting. They have served as members and leaders of the Audit and Finance Committees during their tenure. Bryant has chaired the Audit Committee since 2016, while Hale has served as Finance Committee chair since 2022.
Paul Varga, Macy’s, Inc. lead independent director, said, “On behalf of my fellow directors, I want to express our appreciation to Leslie and John for their meaningful contributions to Macy’s, Inc.’s success over the past eight years. The composition and diversity of the board reflect Macy’s, Inc.’s commitment to best-in-class corporate governance. We are confident that Naveen’s unique skillset will be a strong complement to our board as the company continues to focus on strengthening its foundation for sustainable, long-term, profitable sales growth.”
Following the 2023 annual meeting, the Macy’s, Inc. board will have 13 members, 12 of whom are independent. Chopra will serve on the Audit and Finance Committees.