TJX Extends Kenneth Canestrari's Contract Through April 2027
The TJX Companies, Inc. entered into a letter agreement on October 15, 2026, extending the employment contract of Kenneth Canestrari, Senior Executive Vice President and Group President, until April 30, 2027. The disclosure, filed with the U.S. Securities and Exchange Commission on October 20, 2026, details the terms surrounding Canestrari's planned retirement from the Framingham, Massachusetts-based retailer.
The TJX Companies, Inc. entered into a letter agreement on October 15, 2026, extending the employment contract of Kenneth Canestrari, Senior Executive Vice President and Group President, until April 30, 2027. The disclosure, filed with the U.S. Securities and Exchange Commission on October 20, 2026, details the terms surrounding Canestrari's planned retirement from the Framingham, Massachusetts-based retailer.
Under the new agreement, Canestrari's employment will continue until April 30, 2027, amending his original employment agreement dated February 2, 2018, as last amended on February 2, 2024. Effective January 31, 2027, he will cease to serve as an executive officer of the company. From that date until his scheduled retirement in April, he will remain employed as a Senior Executive Vice President. During this interim period, the company will specify his duties and responsibilities, including tasks related to the transition of his current role.
The agreement confirms that Canestrari remains eligible for compensation and benefits under his existing employment terms. However, specific restrictions apply to his incentive compensation moving forward. He will not participate in the Management Incentive Plan or the Long Range Performance Incentive Plan for performance periods beginning in fiscal year 2028 or later. Additionally, he will not receive new equity grants under the company's Stock Incentive Plan.
Upon retirement, Canestrari will be eligible for benefits under the company's plans and programs in accordance with applicable terms. This includes special service recognition benefits related to his existing award opportunities under the Long Range Performance Incentive Plan and his outstanding awards under the Stock Incentive Plan. The filing notes that he must adhere to ongoing restrictions regarding competition, solicitation of employees or clients, and the handling of confidential information as defined in his employment contract and related plan documents.
The report was signed by Alicia C. Kelly, Executive Vice President, Secretary and General Counsel of The TJX Companies, Inc. The company's common stock is registered on the New York Stock Exchange under the symbol TJX. The filing identifies the company's principal executive offices at 770 Cochituate Road in Framingham, Massachusetts.