TJX Companies Board To Elect Ernie Herrman CEO, Starting Jan. 31

TJX Companies Inc. board of directors will elect Ernie Herrman chief executive officer, effective Jan. 31, 2016, the beginning of the company's fiscal year. Herrman has already been elected director and he will continue as president, a position he's held since Jan. 2011, after becoming chief executive. Carol Meyrowitz, the company's chairman and CEO for the past nine years, will become executive chairman of the board at the time of the CEO transition. According to her new three-year agreement, she will remain an active executive, part of the executive management team and an advisor to Herrman. TJX operates 3,461 stores in seven countries. They include T.J. Maxx, Marshalls and HomeGoods. TJX stock is up 3.2% for the year to date. The S&P is down 3.8% for the same period.