Macy’s, Inc CFO quits, takes $510,000 in “advisory fees” – Idaho Reporter

Markets, National, Retail

Macy’s, Inc CFO quits, takes $510,000 in “advisory fees”

Macy’s, Inc (NYSE: M) an American department store chain founded in 1858 by Rowland Hussey Macy is out there to find a new CFO. Company announced today that Paula A. Price, Executive Vice President and Chief Financial Officer of Macy’s, Inc is leaving the office, effective as of May 31, 2020.

According to Advisory Agreement” between Macy’s, Inc. and Paula A. Price reviewed by Idaho Reported and dated April 6, 2020, Paula “will provide consultation to the Company on a non-exclusive basis as an advisor on matters including finance, stakeholder relationships, business development, other general business matters” of “up to eight hours per week “,

“Monthly Advisory Fee” is set to be “an amount in cash equal to $85,000 ” and it will last for 6 months, which equals $510K. Eight hours per week is some 32 hours per months.

Last month Macy’s decided to furlough 100,000+ employees. Macy’s, Inc Pre-market price is up $6.24 +0.61 (10.83%)

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