J.C. Penney has named Bill Wafford its new chief financial officer. He succeeds Michael Fung, who will remain with the company through the end of April.
Wafford most recently was evp/chief financial officer for The Vitamin Shoppe where he oversaw all aspects of the company’s finance strategy and execution that included accounting, real estate, mergers and acquisitions and corporate strategy.
Prior to The Vitamin Shoppe, Wafford served as a partner in the advisory practice group of KPMG following a five-year career at Walgreens Boots Alliance.
“His first-hand knowledge and understanding of financial turnarounds will help JCPenney deliver improved results and drive profitable growth,” said Jill Soltau, CEO. “Additionally, his extensive career supporting global retail and consumer brand companies will prove instrumental as we continue to strengthen our capabilities, optimize our product selection, and reduce unproductive inventory to effectively meet and exceed shoppers expectations.”