10:08 AM EDT, 04/10/2024 (MT Newswires) -- Macy's (M) said Wednesday it has appointed two Arkhouse Management nominees to its board, effective immediately.

Richard Clark and Richard L. Markee will also join the finance committee of Macy's board, the retailer and private-equity firm said.

Macy's also announced Chief Executive Tony Spring has become chair.

The board now comprises 15 directors out of which 14 are independent, Macy's said.

"Ric Clark and Rick Markee bring tremendous dealmaking experience to Macy's Board and will be instrumental in maximizing value for shareholders. As a result of our efforts, our buyer group has begun receiving due diligence to progress discussions toward a potential transaction to acquire the company," Arkhouse Managing Partners Gavriel Kahane and Jonathon Blackwell said in a statement.

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