Macy’s gave its chief executive Terry Lundgren pay package worth $11.3 million in 2012. That’s down 22 percent from 2011 as he failed to meet all of Macy’s financial performance goals.

Lundgren, 61, has served as CEO of Macy’s since 2003, making him one of the longest-tenured CEOs in the department store industry. He also serves as chairman and president of the Cincinnati-based company, which runs the Bloomingdale’s chain as well as Macy’s.