Macy’s West Chairman and CEO Resigns

Daniel Finkelstein has resigned as chairman and chief executive of Macy’s West, the San Francisco-based division of retailing giant R.H. Macy & Co.

The announcement of Finkelstein’s departure comes eight months after his father, Edward Finkelstein, stepped down as chairman and chief executive of the debt-plagued parent company.

Daniel Finkelstein, 38, was replaced on an interim basis by Macy’s West President Rudolph Borneo. Finkelstein held the posts since 1989.

Finkelstein’s resignation came as little surprise to analysts, who said his fortunes rose and fell with those of his father and his brother, Mitchell, who resigned two months ago as head of the company’s Asian products division.

The company filed for Chapter 11 bankruptcy protection a year ago.

Macy’s West operates 53 Macy’s and Bullock’s department stores in California and the Southwest, with annual sales of $2.5 billion.