Paula Price Will Become Macy’s New CFO After Four Years At Harvard

Paula Price will be joining Macy’s Inc. as its chief financial officer and will join the company’s Corporate Strategy Group.

Price’s 30-year career includes senior-level finance, general management, and strategy roles based in New York, London, and Chicago in retail (grocery and pharmacy), financial services, and consumer packaged goods industries. Her appointment to Macy’s, however, was based on her extended experience in the retail and consumer-facing business. She will succeed 21-year veteran Karen Hoguet, who plans to retire at the end of the year. She will be responsible for all of Macy’s finance, accounting, investor relations, and internal audit function, spending her time between New York and the company’s headquarters in Cincinnati.

Currently, Price is a full-time senior lecturer in the accounting and management unit at Harvard Business School, a role she has held since 2014. Prior to her current role in academia, she was senior vice president, controller, and chief accounting officer for CVS Caremark Corp. and was a key player in the $26 billion CVS Caremark merger deal. Previously, she worked in the financial services industry at JPMorgan Chase and Prudential Insurance Co. of America; and in the consumer packaged goods industry at Diageo and Kraft Foods. She began her career in public accounting at Arthur Andersen & Co.

Price currently sits on the corporate boards of Accenture Plc, Dollar General Corp., and Western Digital Corp. She is also a board director of Blue Cross Blue Shield of Massachusetts, Big Brothers Big Sisters of Massachusetts Bay, and Beaver Country Day School. She is the Audit Committee Chair of Accenture, the Audit Chair of Western Digital Corp., and the Chair of the Board of Big Brothers Big Sisters of Massachusetts Bay. She was a board director of Charming Shoppes Inc. from March 2011 until it was sold, and a board trustee of Newton Wellesley Hospital.

Price earned her M.B.A. in Finance and Strategy from University of Chicago Booth School and her bachelor’s degree in Accounting from DePaul University. She is also a certified public accountant. She is a member of the Massachusetts Chapter of International Women’s Forum, American Institute of Certified Public Accountants, and National Association of Corporate Directors.