Apparel and home fashions retailer TJX plans to name Ernie Herrman to succeed current CEO Carol Meyrowitz at the beginning of the company’s next fiscal year, January 31, 2016. Meyrowitz, who has held the CEO position for nine years, will become Executive Chairman of the Board. Herrman has been President of The TJX Companies since January 2011, and has been with the company since 1989.
“Ernie has decades of experience as an off-price merchant,” said Meyrowitz in a statement. “He has been instrumental to our Company’s success, including our continued international growth with our expansion into continental Europe, bringing Marshalls to Canada, and intent to acquire Trade Secret in Australia. I look forward to continuing to work with the TJX leadership team in the role of Executive Chairman as we keep growing TJX as a global, value retailer.”
“I am truly honored by the opportunity to lead TJX forward,” said Herrman. “I am convinced we are in an excellent position to grow to be a $40 billion company and beyond. The succession plan that the Board has established gives me great confidence that we will have a seamless transition.”
TJX operates 3,461 stores in seven countries, with brands including T.J. Maxx, Marshalls, HomeGoods and Sierra Trading Post.