Ben Cammarata will retire as board chairman of The TJX Companies as of the company’s annual meeting. Current plans call for the board to elect Carol Meyrowitz, TJX CEO and a board member, to succeed Cammarata as chairman after his official retirement at the June 11 meeting.
After his retirement from the board, Cammarata will remain available to TJX in a consulting role as founder and executive advisor.
In announcing the board changes, Meyrowitz said, “Ben Cammarata has helped grow TJX from its infancy to the nearly $30 billion company we are today, and he has been a mentor, partner and friend to me over many years. I share his dedication to and passion for this company and consider it a great privilege to succeed him as chairman of the board. Ben founded our business based on the values of acting with integrity, treating each other with respect and dignity, and being a teaching organization. These are values that remain core to TJX. Ben has put his heart and soul into this business, and I am delighted that he is remaining with us in an advisory role, and we will continue to benefit from his extensive knowledge and experience. I have great confidence that together with the board of directors, our deep bench of senior executives, and all of our associates at TJX, we will continue our successful growth into the future as a global, value retailer.”
Cammarata stated, “Having founded this business nearly four decades ago and after serving as its chairman of the board for 17 years, I couldn’t be more convinced that Carol Meyrowitz is the right person to lead our board of directors into the future. Carol has been with the company for 33 years and CEO for nine years, and a great deal of TJX’s success is attributed to her leadership, strategic vision and many contributions to our company.”
As of January 31, TJX operated a total of 3,395 stores in six countries, the United States, Canada, Ireland, Germany, Poland and the United Kingdom as well as three e-commerce websites. Bricks and mortar operations include 1,119 T.J. Maxx, 975 Marshalls, 487 HomeGoods and six Sierra Trading Post stores in the United States, 234 Winners, 96 HomeSense and 38 Marshalls stores in Canada, and 407 T.K. Maxx and 33 HomeSense stores in Europe.