RETAIL TRADE: New Boss at Macy's

For more than half a century, Macy's New York, the world's biggest department store, has never had a boss who was not a member of the owning Straus family. When Richard Weil Jr., a Straus grandson, stepped down from the presidency two months ago (TIME, March 24), the job was taken on by his first cousin, Jack Straus, who also runs the entire Macy chain. This week the family tradition was broken. Jack Straus announced a new boss for the store: 44-year-old Wheelock Hayward Bingham, who for seven years has run Macy's San Francisco in a way to make the...

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