FRAMINGHAM, Mass. – TJX Companies, operator of T.J. Maxx, Marshalls and HomeGoods, has extended the contract of CEO Carol Meyrowitz for two years, the Boston Herald reported Wednesday.
Meyrowitz, who has been CEO since January 2007, will earn a base salary of $1.3 million.
“The re-signing is clearly an endorsement of the accomplishments and the good work that she and the organization have done under her regime,” Michael Tesler, a partner at consulting firm Retail Concepts, told the newspaper. “TJX has had several consecutive good years and the company is very healthy despite closing its A.J. Wright stores, which had been a weak sister of the organization.”
In December, TJX announced the elimination of its A.J. Wright stores, converting 91 into T.J. Maxx, Marshalls or HomeGoods stores and closing 71 others, including the Fall River distribution center. The organization slashed 4,400 jobs in the move.
TJX also promoted several executives, including: Ernie Herrman, 50, to president, and Nan Stutz, 53, and Michael MacMillan, 55, to senior executive vice president positions, the Boston Herald reported.
