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Davis Resigns From J.C. Penney, Named Qurate CFO

Qurate Retail Group has announced that Jeffrey Davis will join the group as chief financial officer. Davis has resigned as the CFO of J.C. Penney to take the new position.

Davis will oversee financial operations and strategies globally for Qurate Retail Group. He will be responsible for planning and analysis, accounting, payables, payroll, customer finance, tax, treasury, internal audit, strategic procurement, corporate development and the business unit finance teams, as well as serve as CFO for QVC, Inc.

He will assume his new role on October 15, and will report to Mike George, president and CEO, Qurate Retail, Inc. Davis will be based at Qurate Retail Group’s global headquarters in West Chester, PA.

Davis joins Qurate Retail Group from J.C. Penney Company, where he held the position of evp/CFO. Prior to J.C. Penney, Davis served as CFO at Darden Restaurants, a portfolio of eight restaurant brands with 1,700 locations in the U.S. Davis previously spent nine years at Walmart, where he held various finance leadership positions, including evp/CFO of Walmart U.S

“Jeff brings an extensive background of financial strategy leadership in the retail space,” said George. “He has an engaging, direct communication style and a thoughtful, insightful approach to strategic decisions. We’re looking forward to leveraging his leadership as we continue to redefine our model in the new era of retail and differentiate by delivering curated, personalized, and video-focused shopping experiences across multiple platforms.”

In a separate press release, J.C. Penney announced Jeffrey Davis’ resignation as CFO, effective October 1.

Jerry Murray, svp/finance, will assume the position of interim chief financial officer, reporting directly to the office of the CEO. As interim CFO, he will report into the office of the CEO members Therace Risch, chief information and digital officer, and Mike Robbins, evp/private brands and supply chain.

J.C. Penney said it will commence a formal search for Davis’ successor, reviewing both internal and external candidates.