Getting to Know NRF’s New CEO

It was much more than the luck of the Irish that positioned Matt Shay to be introduced as the next president and CEO of the National Retail Federation on St. Patrick’s Day. It took years of hard work and dedication.

Shay, 47, joins NRF from the International Franchise Association, where he was president and CEO for six years. He worked his way up the IFA ranks, having also served as the association’s vice president of government relations and chief general counsel.

Shay began his career with the Ohio Council of Retail Merchants. A bill he crafted to provide a tax break for state business owners and an unemployment compensation law he authored that resulted in a multi-million-dollar tax break for state businesses caught the eye of Washington insiders. Thus began 17 years working the public policy scene in the nation’s capital.

Shay will assume his new role May 10, and be formally elected at the June 22 meeting of the NRF Board of Directors. He succeeds Tracy Mullin, who is retiring after 17 years as NRF CEO and 34 years with the federation.

What do you perceive to be the biggest challenges facing the retail industry today?
I’d put the challenges in two categories – economic and public policy. The economic challenges are consumer spending, consumer confidence and the lack of job creation, which impedes consumption.

The public policy challenges are pretty straightforward. The new health care [law] is going to impose incredibly significant burdens on businesses and on taxpayers. That’s going to have a significantly chilling effect on consumption, spending and job creation.

Beyond that, we’ve got challenges related to the climate change legislation and immigration reform, and there is a series of other policy matters on the minds of both businesses and consumers – things that force people to reconsider before making an investment or purchase.

What do you consider to be your top priority?
The top priority is to ensure that we have appropriate resources aligned to achieve our goals in the advocacy arena on these public policy issues. A longer-term priority is that we position the NRF in Washington as an organization that has an advocacy footprint that is reflective of the economic footprint of the retail industry.

What is your perception of the NRF “brand”?
NRF is a fantastic brand. There’s embedded goodwill in the brand and it represents an outstanding group of members and a dynamic industry that really is the foundation of our economy. There are opportunities to use that brand and its inherent goodwill to leverage our effectiveness in Washington even more significantly than we do now.

Do you foresee the NRF of 2015 being markedly different from the NRF of today – and if so, how?
I hope it will be different. If we aren’t different then we won’t have taken advantage of the opportunities to be even more effective for our members. We know that the economy, consumer spending, demographics and politics of 2015 will be different than they are in 2010, so if we don’t continue to deliver compelling, cutting-edge programs and services, and to grow, change and adapt to reflect the environment in which we operate, then we won’t be relevant to our members.

What are you personally passionate about?
My family. My wife Allison and I have three children ages 41⁄2, 3 and 11⁄2, so they are the focus of much of what we do right now. Part of the reason why this is such an exciting opportunity is because I have a chance to build a whole new career and my kids will be a part of that in a way they weren’t able to be at the IFA, simply because of their ages.

Besides your morning coffee, name three items you purchased recently.
I purchased some American Girl doll clothing for Molly (I call her “Molly the dolly”) at the store in New York and online. My wife bought me a new tie to wear on St. Patrick’s Day — which is the day that NRF made this announcement — at a retail store at Tysons Corner. My wife does most of the shopping, but we also go to Pottery Barn Kids a lot and we shop L.L.Bean and the Carter’s store for kid’s clothes.