Macy's announcing today that CEO, Terry Lundgren, will step down in the first quarter of next year.
The country's largest department-store chain is making big changes following its recent report, which showed its worst quarterly sales since the recession. Despite the company's recent troubles, Macy's is up 158% under Lundgren's leadership.
The current CEO will be replaced by Macy's president Jeff Gennette while Mr. Lundgren will remain the company's executive chairman.
So what does this mean for the stock?
On today's Halftime Report the desk reacted to the new changes in hierarchy.