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J.C. Penney Sets Executive Changes

J.C. Penney said it has set a series of leadership actions, taking place over the next few months, that will assemble a cross-functional executive team as the retailer focuses on the needs of the value-based consumer and position the company for growth.

Beginning January 21, Mike Robbins, evp/private brands and supply chain, will be appointed to evp/chief stores and supply chain officer. In his new customer-focused role, Robbins will be responsible for all stores, supply chain and sourcing operations. With a broad focus on the customer experience and ensuring timely and innovative product delivery, Robbins will continue to oversee product design and development until a new chief merchant has been identified.

Additionally, Truett Horne, currently an associate principal at McKinsey & Company, will join the company as chief transformation officer, reporting to J.C. Penney CEO Jill Soltau. Horne will have primary responsibility for the development and implementation of the company’s strategic and transformational initiatives.

“These executive changes reflect the strength and depth of each leader’s responsibilities, and their enormous potential to drive change aligned with our customer’s needs and expectations,” said Soltau. “By appointing and recruiting the right leaders who have the expertise and fortitude to accelerate a turnaround strategy, our senior executive team will play an instrumental role in energizing teams, connecting with our customers and positioning J.C. Penney for profitable growth.”

The company has also announced that it is seeking to fill key senior management positions and address current business needs as it undergoes a leadership transition within the following areas: chief merchant, chief customer officer and svp/planning and allocation.

A principal accounting officer will also be hired to oversee the company’s accounting functions, as well as serve as the lead controller. Andrew Drexler, svp/chief accounting officer and controller, will leave the company effective March 31. The search for a chief financial officer is also still underway.