NEW YORK (AP) -- Bloomingdale's, Macy's upscale sister, announced Wednesday that Chairman and CEO Michael Gould will be leaving after 22 years at the helm.
Gould, 70, will be succeeded by Tony Spring, 48, currently Bloomingdale's president and chief operating officer. The change is effective Feb. 1.
"Michael Gould has been an outstanding and inspirational leader who has strengthened Bloomingdale's position as an upscale fashion trendsetter known and loved by customers around the globe," said Terry J. Lundgren, chairman, president and CEO of Macy's Inc., in a statement. He noted that Spring, who has been at Bloomingdale's for 26 years, has been an integral part of Bloomingdale's formula.
Macy's Inc., with corporate offices in Cincinnati and New York, operates nearly 40 full-scale Bloomingdale's stores and 13 outlet stores. The parent company operates around 800 Macy's stores nationwide.
Gould, who joined Bloomingdale's as chairman and CEO in 1991, told The Associated Press that he felt it was time to pass the baton and said he had been thinking about leaving for the past seven months. He started succession planning 10 years ago with his eye on Spring.
As for what he will do next, Gould said he doesn't have specific plans but said, "I would like to teach and give back more to charitable organizations."
Under Gould's leadership, Bloomingdale's started shipping its fashions in more than 100 countries outside the U.S. in 2010, opened its first store in Dubai in 2011, and developed an outlet strategy that now totals 12 locations.
Before his tenure at Bloomingdale's, Gould was president and CEO of Giorgio Beverly Hills. He joined Giorgio in 1986 as president and chief operating officer. Gould began his retailing career in 1968 at the Brooklyn-based Abraham & Straus division of Federated Department Stores, now renamed Macy's Inc. A&S is now defunct.
Spring told The Associated Press that a priority will be further blending Bloomingdale's online experience with shopping at its physical stores. Bloomingdale's already allows shoppers to buy online and pick up at any one of its stores. It also uses its stores as mini-warehouse hubs, shipping merchandise directly to its customers. It's also testing mobile checkout devices for sales clerks to use in stores.
Spring noted that he plans to expand Bloomingdale's to other locations in the U.S. and open stores overseas.
"Our brand has the opportunity to grow," he added.
Spring was promoted to Bloomingdale's president and chief operating officer in 2008 with responsibility for Bloomingdale's stores, marketing, creative services, finance, operations, and restaurants. He began his Bloomingdale's career in 1987 as an executive trainee in the White Plains, N.Y., store.