As a global company with approximately 198,000 Associates at the end of 2014, we consider diversity among our Associates, customers and vendors to be part of who we are and core to our culture. At the Board level and throughout the organization, we strive to promote the benefits of leveraging our differences and promoting a talented and diverse workforce. In that regard, we seek to have a diverse Board that can provide sound and prudent guidance with respect to our operations and interests.
While we do not have a formal policy with respect to Board diversity, we do take into account many factors when evaluating our Board and considering new Board members. These factors include geographic, gender, age, ethnic and racial diversity as well as diversity of experience – e.g., a general understanding of disciplines relevant to the success of a large, publicly traded company in today’s business environment; understanding of our business and industry; professional background and leadership experience; experience on the boards of other large publicly traded companies; personal accomplishment; and independence. Our Corporate Governance Committee evaluates each individual Board member in the context of the Board as a whole, with the objective of recommending a group that the Committee believes can best perpetuate the success of our business. The TJX Board of Directors represents stockholder interests by exercising sound judgment using its collective diversity of experience.
We value the many kinds of diversity reflected in our current Board and are pleased to report that:
- All of our directors are financially literate.
- 2 of the 4 members of our Audit Committee are audit committee financial experts.
- 9 of our 11 Board Members are independent.
- 3 of our 11 Board Members are women.
- Our Board represents a range of ethnicities, experiences and backgrounds.
- Board Members are re-elected annually through a majority voting of shareholders.
For more detail on our Board of Directors, Committees of the Board and governance structure, we encourage you to visit our Corporate Governance Documents page.
Carol Meyrowitz, 61
- Director since 2006
- Chairman of the Board
- Chairman of the Executive Committee
- Chief Executive Officer
Ms. Meyrowitz has been Chairman of the Board of TJX since June 2015 and Chief Executive Officer of TJX since January 2007. She has been a Director since September 2006 and also served as President from October 2005 to January 2011. She served as Senior Executive Vice President of TJX from 2004 until January 2005, Executive Vice President of TJX from 2001 to 2004 and President of The Marmaxx Group from 2001 to January 2005. From January 2005 until October 2005, she was employed in an advisory role for TJX and consulted for Berkshire Partners LLC, a private equity firm. From 1987 to 2001, she held various senior management positions with Marmaxx and with Chadwick’s of Boston and Hit or Miss, former divisions of TJX. Ms. Meyrowitz is also a director of Staples, Inc.
Ernie Herrman, 54
- Director since 2015
Mr. Herrman was elected a Director in October 2015, when it was announced that the Board intends to elect him to the position of Chief Executive Officer, effective January 31, 2016. Mr. Herrman has been President of TJX since January 2011. Mr. Herrman served as Senior Executive Vice President, Group President from August 2008 to January 2011, with responsibilities for The Marmaxx Group, HomeGoods and TJX Canada. From 2005 to 2008, he was President of Marmaxx. Mr. Herrman has also held various senior merchandising positions with TJX since 1989.
Zein Abdalla, 56
- Independent Director since 2012
- Member of the Corporate Governance and Finance Committees
Mr. Abdalla was President of PepsiCo, Inc., a leading global food, snack and beverage company, from September 2012 through December 2014, prior to which he served as CEO of PepsiCo Europe, a division of PepsiCo, starting in 2009. Mr. Abdalla previously held a variety of senior positions at PepsiCo since he joined that company in 1995, including as President of PepsiCo Europe, General Manager of PepsiCo’s European Beverage Business, General Manager of Tropicana Europe and Franchise Vice President for Pakistan and the Gulf region. Mr. Abdalla is also a director of Cognizant Technology Solutions Corporation.
José B. Alvarez, 52
- Independent Director since 2007
- Member of the Audit and Executive Compensation Committees
Mr. Alvarez has been a member of the faculty of the Harvard Business School since 2009. From August 2008 through December 2008, Mr. Alvarez was the Global Executive Vice President for Business Development for Ahold, a global supermarket retail company. From 2001 to August 2008, he held various executive positions with Stop & Shop/Giant-Landover, Ahold’s U.S. subsidiary, including President and Chief Executive Officer of Stop & Shop/Giant-Landover from 2006 to 2008 and Executive Vice President, Supply Chain and Logistics from 2004 to 2006. Previously, he served in executive positions at Shaw’s Supermarkets, Inc. and began his career at the Jewel Food Stores subsidiary of American Stores Company in 1990. Mr. Alvarez is also a director of United Rentals, Inc.
Alan M. Bennett, 64
- Independent Director since 2007
- Chairman of the Executive Compensation Committee and member of the Finance Committee
Mr. Bennett served as Chief Executive Officer, H&R Block Inc., a tax services provider, from July 2010 through May 2011 and was previously Interim Chief Executive Officer from November 2007 through August 2008. He was Senior Vice President and Chief Financial Officer and a member of the Office of the Chairman of Aetna, Inc., a diversified healthcare benefits company, from 2001 to 2007, and previously held other senior financial management positions at Aetna after joining in 1995. Mr. Bennett held various senior management roles in finance and sales/marketing at Pirelli Armstrong Tire Corporation, formerly Armstrong Rubber Company, from 1981 to 1995 and began his career with Ernst & Ernst (now Ernst & Young LLP). Mr. Bennett is also a director of Halliburton Company and Fluor Corp.
David T. Ching, 62
- Independent Director since 2007
- Member of the Audit and Corporate Governance Committees
Mr. Ching served as Senior Vice President and Chief Information Officer for Safeway Inc., a food and drug retailer, from 1994 to January 2013 and has been a consultant through DTC Associates LLC, focusing on management consulting and technology services, since 2013. Previously, Mr. Ching was the General Manager for British American Consulting Group, a software and consulting firm focusing on the distribution and retail industry. He also worked for Lucky Stores, Inc., a subsidiary of American Stores Company from 1979 to 1993, including serving as the Senior Vice President of Information Systems.
Michael F. Hines, 59
- Independent Director since 2007
- Chairman of the Audit Committee and member of the Finance Committee
Mr. Hines served as Executive Vice President and Chief Financial Officer of Dick’s Sporting Goods, Inc., a sporting goods retailer, from 1995 to 2007. From 1990 to 1995, he held management positions with Staples, Inc., an office products retailer, most recently as Vice President, Finance. Mr. Hines spent 12 years in public accounting, the last eight years with the accounting firm Deloitte & Touche LLP. Mr. Hines is also a director of GNC Holdings, Inc. and Dunkin’ Brands Group, Inc.
Amy B. Lane, 62
- Independent Director since 2005
- Chairperson of the Finance Committee and member of the Audit and Executive Committees
Ms. Lane was a Managing Director and Group Leader of the Global Retailing Investment Banking Group at Merrill Lynch & Co., Inc., from 1997 until her retirement in 2002. Ms. Lane previously served as a Managing Director at Salomon Brothers, Inc., where she founded and led the retail industry investment banking unit. Ms. Lane is also a director of GNC Holdings, Inc. and NextEra Energy, Inc. and a member of the board of trustees of Urban Edge Properties.
John F. O'Brien, 72
- Independent Director since 1996
- Lead Director and member of the Executive Committee
Mr. O’Brien is the retired Chief Executive Officer and President of Allmerica Financial Corporation (now The Hanover Insurance Group, Inc.), an insurance and diversified financial services company, holding those positions from 1995 to 2002. Mr. O’Brien previously held executive positions at Fidelity Investments, an asset management firm, including Group Managing Director of FMR Corporation, Chairman of Institutional Services Company and Chairman of Brokerage Services, Inc. Mr. O’Brien serves as our lead director. Mr. O’Brien is also non-executive Chairman and a director of Cabot Corporation, a director of LKQ Corporation and a director of a family of registered mutual funds managed by BlackRock, Inc., an investment management advisory firm.
Willow B. Shire, 67
- Independent Director since 1995
- Chairperson of the Corporate Governance Committee and member of the Executive Compensation Committee
Ms. Shire was an executive consultant with Orchard Consulting Group from 1994 until January 2015, specializing in leadership development and strategic problem solving. Previously, she was Chairperson for the Computer Systems Public Policy Project within the National Academy of Science. She also held various positions at Digital Equipment Corporation, a computer hardware manufacturer, for 18 years, including Vice President and Officer, Health Industries Business Unit.
William H. Swanson, 66
- Independent Director since 2015
- Member of the Executive Compensation Committee
Mr. Swanson was the Chief Executive Officer of Raytheon Company, a technology and innovation leader specializing in defense, security and civil markets throughout the world, from July 2003 until March 2014 and served as Chairman of the Board of Raytheon from January 2004 until his retirement in September 2014, after a 42-year career with the company. During his tenure, he held a wide range of leadership positions at Raytheon. Mr. Swanson is also a director of NextEra Energy, Inc.