JCPenney announced today the appointment of Marc Rosen as chief executive officer, effective Nov. 1, 2021. Stanley Shashoua, Simon’s chief investment officer, has been appointed as executive chairman of the Board of Directors after serving as interim CEO of JCPenney since January.
“Marc joins JCPenney following a year of focused work to stabilize the business, improve financials, and position the retailer for long-term success,” said Shashoua. “Working with the phenomenal and dedicated JCPenney team as CEO has been immensely rewarding, and I look forward to my next step as executive chairman. Marc’s significant e-commerce and retail experience makes him the perfect fit to lead the next chapter of the company’s transformation as we work to better serve our customers.”
JCPenney has strengthened its omnichannel experience by meeting customers where they are with the brands they love and all the ways they want to shop. In the past year alone, JCPenney has strategically introduced and relaunched 16 private and exclusive national brands—six of which are entirely new private brands—across all divisions. Notable portfolio additions include Ryegrass™, Linden Street™, Thereabouts™, Stylus™, and Juicy by Juicy Couture. JCPenney has also improved its digital and fulfillment capabilities and introduced JCPenney Beauty, the Company’s new hyper-inclusive beauty experience. These cumulative efforts are helping to win back customers and gain market share, resulting in current liquidity of $1.5 billion. JCPenney looks toward its 120th year of business in 2022 with operation of 670 stores nationwide and plans to continue building on the momentum established this year.
Source: JCP newsroom
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