Macy’s, Inc. Nominates Douglas W. Sesler for Election to Board of Directors

Macy’s, Inc. (NYSE: M) today announced the nomination of Douglas W. Sesler, Founder and President of Fair Street Partners, to stand for election to the Company’s Board of Directors (the “Board”) at the 2024 Annual Meeting of Shareholders (the “Annual Meeting”).

Sesler is a seasoned real estate industry executive with more than 35 years of experience across real estate advisory, investing and finance. In 2021, he founded Fair Street Partners, a private real estate investment and development platform, where he currently serves as President, actively investing in real estate developments, including conversion of retail real estate for alternative use, and acts as a financial advisor related to real estate investments and restructurings. Previously, he served as Head of Real Estate for Macy’s, Inc., where he was responsible for the Company’s real estate portfolio totaling over 100 million square feet and the monetization and development of over $2 billion of real estate. Sesler also held various leadership roles at True Square Capital, Bank of America Merrill Lynch, including head of global real estate principal investments and co-head of real estate investment banking, Citigroup, including managing director of global real estate investment banking, Travelers Realty Investment Company and Chemical Bank (now J.P. Morgan).

“Doug will bring to our Board a unique combination of experience at real estate investment and financial services firms, along with an intimate understanding of our company and its real estate assets,” said Tony Spring, chief executive officer and chairman-elect of Macy’s, Inc. “He has a long track record of success in leading and implementing value-generating real estate portfolio management strategies and transactions. I am confident Doug’s skill sets will complement those of our other directors and advance our efforts to unlock value for our shareholders as we advance A Bold New Chapter strategy.”

Sesler commented, “I’m excited about the prospect of joining the Macy’s, Inc. Board as the company embarks on its new strategy. I have great appreciation for the company’s efforts to deliver a preeminent shopping experience to its customers across all three nameplates while taking action to accelerate growth and enhance shareholder value. I look forward to working alongside the company’s other directors and leadership team in driving Macy’s, Inc. to a brighter future.”