J.C. Penney Names Davis CFO

J.C. Penney has named Jeffrey Davis as the retailer’s executive vice president and chief financial officer. He succeeds Andrew Drexler, who has been serving as interim chief financial officer while the company completed its search.

Davis will report to Marvin Ellison, chairman and chief executive officer of J.C. Penney.

In his role, Davis will be responsible for all financial operations of the company, including the oversight of finance teams at the J.C. Penney home office and shared services center in Salt Lake City. Among his primary objectives will be to continue the company’s progress in identifying earnings growth opportunities, optimizing pricing, exercising SG&A discipline, managing inventory levels and deleveraging debt, according to the company.

Davis most recently served as chief financial officer at Darden Restaurants, overseeing finance and accounting, corporate reporting, tax, internal audit, treasury and investor relations. He also maintained oversight of Darden’s real estate acquisitions, as well as the company’s restaurant development.

Prior to Darden, Davis served as evp/chief financial officer for Walmart U.S. stores. Upon joining Walmart in 2006, he served as vp/finance for its U.S. specialty division before assuming positions of increasing responsibility, including svp/finance and strategy, followed by a promotion to svp/treasurer.