Thrasio, a startup that rolls up popular brands sold on Amazon.com Inc.’s marketplace, has poached JCPenney’s chief financial officer.
Bill Wafford, hired in 2019 to help turn around the unprofitable department store chain, will serve in the same job at Thrasio, the company said on Thursday.
Wafford is the latest executive to leave JCPenney since it filed for Chapter 11 bankruptcy in May. The pandemic struck less than a year into his tenure and hit apparel retailers like JCPenney hard, forcing them to close hundreds of stores for weeks. Mall owners Simon Property Group Inc. and Brookfield Asset Management Inc. acquired JCPenney’s retail operations out of bankruptcy to help keep one of its biggest tenants in business. In December, the new owners replaced Jill Soltau as CEO.
Source: Bloomberg
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