Jeff Gennette is the right pick to succeed Macy's CEO Terry Lundgren, retail consultant Jan Kniffen said Thursday.
"Jeff's got a vision for what they're going to do going forward," Kniffen said in an interview with CNBC's "Power Lunch."
"Jeff is going to be great. I think the world is going to be happy about it."
Gennette was widely expected to succeed Lundgren, who has been CEO since 2003. Lundgren, 64, will continue as executive chairman.
Macy's has had a difficult time in recent years as consumers shifted their spending toward experiences versus apparel. During the first quarter, sales at the company's stores that had been open at least a year fell 5.6 percent. That was the steepest decline in its same-store sales since second quarter 2009.
Kniffen, also a CNBC contributor, said despite those turbulent times, Lundgren has had a "darn great run."
He turned Macy's, which was then Federated, into a "national department store with omnichannel retailing in an environment that was virtually impossible, in a dying industry," he said. "That was an enormous job, and I think he did a fabulous job."