Macy’s Inc. M 2.66% poached a senior eBay Inc. EBAY 0.64% executive and streamlined its top management in an effort to speed up decision-making at the struggling department-store chain.

Hal Lawton, 43 years old, will join Macy’s on Sept. 8 as president, the company said.

He will report to Macy’s Chief Executive Jeff Gennette, who had previously held the president’s title.

Macy’s also restructured its merchandising ranks by consolidating its merchandising, planning and private-label functions into a single unit, resulting in the elimination of about 100 jobs.

The move is expected to save about $30 million annually with $5 million of the savings coming in the fourth quarter of the current fiscal year.

“We had a lot of decision makers at the table, and we weren’t as fast as we needed to be,” Mr. Gennette said of the old structure.

The text above is a summary, you can read full article here.