TJX names a new chief executive

Framingham-based TJX Cos., parent of discount retailers T.J. Maxx and Marshalls, has named president Carol Meyrowitz as its new chief executive, the company said today.

Meyrowitz, 52, will retain the title of president, the position she has held since October 2005, and continue to hold her seat on the board.

She will replace Bernard "Ben" Cammarata, chairman of the board, who has been serving as interim CEO for the past 17 months and will remain chairman.

The appointment appears unrelated to the widespread computer security breach that allowed hackers to make fraudulent debit card and credit card purchases at company stores. TJX discovered in mid-December that customer data had been stolen, but did not inform the public of the breach until mid-January.

Meyrowitz has been groomed for the job for months, and the company indicated in September that she was likely to be the next CEO.

"Serving as president of TJX since October 2005, she has worked with me to substantially improve TJX's overall performance, particularly in several of our smaller divisions," Cammarata said.
(AP)