J.C. Penney has named Colin Dougherty svp/finance, reporting to Bill Wafford, chief financial officer. He will join the company on September 23.
Dougherty will be responsible for leading finance strategy, operations, and financial planning and analysis.
He brings 18 years of retail finance experience across multiple disciplines including FP&A, merchandise finance, store finance, capital planning, procurement and transformation. He joins the retailer from Storch Advisors, a New York-based business strategy consulting firm, where he advised clients on strategy, growth, mergers and acquisitions, e-commerce and innovation. Prior to Storch Advisors, Dougherty served as svp/financial planning and analysis for Hudson’s Bay Company.
Dougherty spent the majority of his retail finance career at Target, joining the company in 1993 as a financial analyst. During his time at Target, Dougherty assumed increasing levels of responsibility providing financial leadership to divisions including stores, merchandise, financial services, capital and technology.
“I look forward to welcoming Colin to J.C. Penney to support our focus on returning the company to sustainable and profitable growth. His significant retail and transformation expertise make him an excellent addition to our team as we continue to take positive and proactive measures to further strengthen our capital structure and balance sheet while reestablishing the fundamentals of retail operations,” said Wafford.