Stanley E. Abelson, 93, former president and CEO of Macy's
Stanley E. Abelson, 93, of Philadelphia, a former president and CEO of Macy's, died Sunday, March 5, of heart failure at home.
Mr. Abelson was born and reared in New York. He graduated from the Wharton School of the University of Pennsylvania.
Fresh out of college, he began his retail career on the Executive Training Squad with Macy's in New York.
At that time, Mr. Abelson told his mother that he would become the president of Macy's, and he spent 32 years rising through the ranks to do just that, although he interrupted his career to serve in the Army during World War II and again later in the Korean War as a first lieutenant.
Mr. Abelson married Dorothy Young in 1950. The couple and their children lived in Stamford, Conn., while Mr. Abelson led Macy's before moving to Philadelphia in 1975 when he became president and CEO of Lit Bros. When Lits closed in 1977, Mr. Abelson was hired to head Gimbel Bros. in Philadelphia.
In 1983, at age 59, he became chairman and CEO of Gimbels East, which included the Gimbels stores in both New York and Philadelphia. He had engineered the consolidation of the New York and Philadelphia holdings, which eliminated 190 Philadelphia jobs and transferred 75 others to New York.
One of the changes Mr. Abelson introduced was allowing Philadelphia customers to use their credit cards at the New York store.
A year after the merger, though, weary of the commute to New York, he took early retirement to devote himself to philanthropy and civic volunteer work from his Society Hill home. "I've had a divided lifestyle between New York and Philadelphia, and I'd like to resume a Philadelphia lifestyle," he told the Daily News. Gimbels closed in 1986.
As news of his death circulated last week, his former Gimbels colleagues sent a note to his family. "Mr. Abelson was an outstanding merchant, an astute businessman, and an even greater leader, mentor, and friend to all who had the good fortune to work with him," the note read.
"His passion for the business and his keen intellect were evident to all who met him. He was proud of his team at Gimbels Philadelphia. We all knew that the special environment and culture [there] were a direct reflection of his leadership and compassion for his people."
Mr. Abelson considered his community-service efforts on a par with his professional commitments. He was a board member of the School District of Philadelphia, Greater Philadelphia Chamber of Commerce, Moore College of Art and Design, and the Seamen's Church Institute.
Chosen by Mayor W. Wilson Goode Sr. and sworn in as a member of city's school board in November 1985, Mr. Abelson brought a businessman's perspective to the panel.
"The future growth of Philadelphia," he told the Daily News, "is very much predicated on the educational level of its citizens."
Writing in June 1985, a Daily News reporter called Mr. Abelson "one of the city's busiest executives on the fund-raising circuit."
"His name frequently pops up in the list of those who attend and sponsor charitable functions -- ranging from health charities to the Friends of Independence National Historical Park," the paper wrote.
Mr. Abelson was chairman of the board of the Long Ridge School in Stamford and donated his time to formulating a long-range plan for the Seamen's Church Institute. He was in line to become president of the Greater Philadelphia Chamber of Commerce in 1983 when his Gimbels job in New York demanded his full attention. Instead of serving, he participated in the search that tapped G. Fred DiBona Jr., then president of the Philadelphia Port Corp., for the job.
In November 1984, Mr. Abelson was presented the first Benjamin Franklin Award by the Juvenile Diabetes Foundation's Philadelphia chapter as "that man whose unique achievements, marked by the highest humanitarian concerns, embody the ideals of Benjamin Franklin," the Daily News wrote.
In addition to his wife of 66 years, he is survived by children Ann Patrizio, Ned, and Matt, and seven grandchildren.
Services will be private.
Memorial donations may be made to the Philadelphia Orchestra, 1 S. Broad Street, 14th Floor, Philadelphia 19107, or Pennsylvania Hospital, 3535 Market St., Suite 750, Philadelphia 19104.