Macy’s announced Michael Kranz as the new vice president tasked with running Macy’s Media Network. The retail ad network works with advertising partners across Macy’s and Bloomingdale’s, offering reach to the brands’ customers.

Kranz steps into the role following two years at Walmart’s retail ad network, Walmart Connect. His experience in ads and media also extended to work at Hearst and Condé Nast.

Macy’s is No. 17 in the Top 1000, which is Digital Commerce 360’s database ranking North America’s largest online retailers by their annual web sales. In the Top 1000, Digital Commerce 360 categorizes Macy’s as an Apparel/Accessories retailer.

Kranz’s new role at Macy’s Media Network

“We’re excited to welcome Michael to Macy’s, Inc.,” said Max Magni, chief customer and digital officer at Macy’s, in a released statement. “He takes the reins of our growing retail media network bringing with him more than two decades of sales and marketing experience.”

The network is meant to drive discovery for brands and products among Macy’s shoppers. According to Macy’s, this content is personalized, leveraging insights from across categories at the retailer. Macy’s works with its partners to build custom media plans for ads on its platform.

“Macy’s Media Network is one of retail’s premier platforms for advertisers helping them to connect with highly engaged customers across Macy’s and Bloomingdale’s, giving marketers a host of opportunities to more effectively leverage their media campaigns,” Magni stated.

Leadership change as challenges persist at Macy’s

Kranz’s arrival follows major changes at the top of Macy’s exec team. Tony Spring took over as CEO on Feb. 4, replacing outgoing CEO Jeff Gennette. Gennette remains in the role of chairman on Macy’s board of directors, where he will continue until Macy’s 2024 annual meeting.

The transition was planned and expected. However, it came after a rejected $5.8 billion takeover offer from Arkhouse Management and Brigade Capital Management in January. That offer was later increased to $6.6 billion in March. In addition, Arkhouse launched a proxy fight, nominating nine new members to Macy’s board.

Macy’s has struggled with both in-store and online sales recently, with digital sales down 7% in its most recent fiscal year, which ended on Feb. 3. The retailer also announced plans to close 50 of its stores by the end of its fiscal 2024. It expects to shutter 150 stores by the end of 2026.

Do you rank in our database?

Submit your data with this quick survey and we’ll see where you fit in our next ranking update.

Sign up

Stay on top of the latest developments in the ecommerce industry. Sign up for a complimentary subscription to Digital Commerce 360 Retail News. Follow us on LinkedIn, Twitter and Facebook. Be the first to know when Digital Commerce 360 publishes news content.