Frank Blake joins Macy’s Board of Directors

Frank Blake, former chairman and CEO of The Home Depot, has been elected to the Macy's Board of Directors. Blake's election increases the size of the board to 14 members.

Blake was named Home Depot's Chairman and CEO in 2007 and served in that capacity until retiring as CEO in November 2014 and as chairman in February 2015. He joined Home Depot in 2002 as executive vice president for business development and corporate operations, with responsibility for real estate, store construction, credit services, strategic business development, growth initiatives, call centers and the home services business.

“Frank Blake is an outstanding addition to Macy's board, which is one of the strongest and most diverse in our industry,” said Terry J. Lundgren, Chairman and Chief Executive of Macy's, adding, “Frank has deep operating experience and will be helpful as we seek continuous improvement in execution, especially in our stores organization. At Home Depot, he created a service culture and stressed employee engagement in leading one of America's largest retailers through a period of exceptional growth and success. Moreover, he is deeply experienced in corporate governance and the management of large and complex organizations.”

Prior to joining The Home Depot, Blake served as deputy secretary of the US Department of Energy, where he managed operations, led policy decisions and oversaw a 19 billion dollars budget. Previously, he served in a series of senior roles at General Electric, including senior vice president for corporate development and general counsel of GE Power Systems. Earlier in his career, Blake served as general counsel to the US Environmental Protection Agency and deputy counsel to Vice President George H.W. Bush.

The board also declared a regular quarterly dividend of 36 cents per share on Macy's common stock, payable January 4, 2016.