Saks Fifth Avenue announced that Philip B....

Saks Fifth Avenue announced that Philip B. Miller will be chairman and chief executive of the department store chain, succeeding Melvin Jacobs.

Miller, 54, has been vice chairman and chief operating officer at the New York-based retailer. Jacobs, 66, is to retire June 30.

Saks, owned by management and an international investor group, has 59 stores in 22 states.