Federated Announces New Division Management

Cincinnati, OH, December 22, 2005--Federated Department Stores announced a series of new division senior management appointments, effective Feb. 1, 2006, as the company integrates its Macy's divisions following the acquisition of The May Department Stores Company, which was completed Aug. 30, 2005. "Enhancing our company's already strong talent pool was a key objective of the May acquisition and today's announcements are a clear indication that we have made great strides in that regard," said Terry J. Lundgren, the company's chairman, president and chief executive officer. "By retaining experienced executives from the May Company organization and combining their skills with Federated's existing division leadership, we will strengthen our Macy's divisions as we grow to serve customers in new geographic regions across the country." Daniel H. Edelman will become president and chief operating officer of San Francisco-based Macy's West. Currently, he is chairman and chief executive officer of Macy's Northwest in Seattle. Jeff Gennette will become chairman and chief executive officer of Macy's Northwest. Currently, he is executive vice president and director of stores at Atlanta-based Macy's Central. Robert B. Harrison will become president and chief operating officer of Macy's Northwest. Currently, he is chairman of Robinsons-May in Los Angeles. Andrew P. Pickman will become president and chief merchandising officer of Atlanta-based Macy's South. Currently, he is president and chief executive officer of Foley's in Houston. Michael G. Krauter will become vice chairman and director of stores at Macy's South. Currently, he is president and chief merchandising officer of Macy's Central in Atlanta. John T. Harper will become vice chairman and director of stores at Macy's Midwest in St. Louis. Currently, he is chairman of Hecht's/Strawbridge's. Frank J. Guzzetta will become chairman and chief executive officer of Minneapolis-based Macy's North. Currently, he is president and chief executive officer of Marshall Field's. Robert M. Soroka will become president and chief operating officer of Macy's North. Currently, he is chairman of Marshall Field's. These executives are in addition to the previously announced leadership team at the new Macy's Midwest division, based in St. Louis--William P. McNamara, chairman and chief executive officer, and Brian L. Keck, president and chief operating officer. "Our management team is exceptional both as individuals and as a group," said Federated vice chair Susan D. Kronick, to whom all of the company's department stores divisions report. "The combination of viewpoints from Federated and May Company will bring fresh ideas and additional energy to our Macy's brand, along with a continuing determination to improve our offering for our core customer." Jeffrey A. Kantor will become president for furniture at Macy's Home Store, a new position based in New York and reporting to Timothy M. Adams, the division's chairman and chief executive officer. Currently, Kantor is president and chief executive officer at Hecht's/Strawbridge's in Arlington, VA. "Jeff Kantor is a skilled retailer and merchant who can bring additional insight and merchandising expertise to Macy's furniture business as we expand our offering to former May Company locations," said Federated vice chair Janet E. Grove, to whom Macy's Home Store reports. "We look forward to strengthening our big-ticket home business in the seasons ahead with furniture that reflects the lifestyles of our core customers across the country."

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