PLANO, Texas -
(April 17, 2019) - J. C. Penney Company, Inc. (NYSE: JCP) today
announced the appointment of several highly talented and
accomplished senior executives to their team of retail experts.
Among those joining the organization is Steve
Whaley who has been named senior vice president, principal
accounting officer and controller, reporting to Bill Wafford,
executive vice president, chief financial officer, effective April
29.
Whaley joins JCPenney with over 35
years of accounting and audit leadership experience. He will lead
the Company's accounting operations and financial reporting
functions, and will have oversight over the JCPenney finance and
support services teams in Salt Lake City, Utah, and Bangalore,
India. He will work closely with leaders of the organization to
develop and execute strategic financial decisions designed to meet
near and long-term financial objectives.
Whaley was with Walmart for over
11 years where he served as the senior vice president and
controller, principal accounting officer. While there, he developed
the global controllership organization and function from both a
talent and operational perspective, and was also responsible for
financial reporting, SEC compliance, internal controls and SOX
compliance. Prior to Walmart, he was with Southwest Airlines for
over 16 years, ultimately serving as their vice president and
controller. Whaley began his accounting career with KPMG.
The Company is also pleased to
welcome Laurene Gandolfo as senior vice
president for home product design and development reporting to
Michelle Wlazlo, executive vice president, chief merchant. Gandolfo
is a seasoned leader with 35 years of varied retail experience,
including over 21 years specializing in the home area at both
Macy's and Bloomingdale's. In this newly created role, she will
apply her significant home experience to re-establish relevance
across the Company's home categories and focus and segment JCPenney
brands including JCPenney Home(tm), Cooks(R) and Liz
Claiborne(R).
Gandolfo joins JCPenney on April
22 from Macy's, where she most recently served as executive vice
president of men's and kids' private brands. Prior to that, she was
executive vice president of home private brands where she ran a
portfolio of 13 exclusive brands for Macy's and Bloomingdale's,
several of which she and her teams helped launch. Gandolfo
began her career at Levi Strauss & Co. and also held
merchandising and store line positions in ready-to-wear, men's and
intimate apparel.
Additionally, Trish Adams will serve as a strategic advisor to
JCPenney, supporting the Company's transformation office led by
Truett Horne, senior vice president, chief transformation officer.
In this role, Adams will evaluate and create plans to simplify and
improve the effectiveness and profitability of the Company's
pricing and promotional strategies. Adams has had an extensive
career at Target Corporation and previously served as their senior
vice president of apparel and accessories where she played a
leadership role on the team that was among the first to forge
partnerships with high profile designers to create lower priced
collections exclusive to Target. Most recently, she was executive
vice president, merchandising product group where she was
responsible for overseeing Target's product design and development,
sourcing and visual merchandising initiatives. In addition, Adams
served as executive vice president, apparel and home, where she led
a team of merchants and product designers to develop and execute
Target's apparel and home strategy.
"I am delighted to welcome these
highly regarded leaders to JCPenney. Each brings significant
expertise in their respective fields, and a track record of
innovation and delivering results for some of the world's largest
and most reputable companies. Together, we will continue to
strengthen our operational capabilities, optimize our product
selection, and create a compelling and rewarding shopping
experience for our customers," said Jill Soltau, chief executive
officer for JCPenney. "Over the past few months we have assembled a
talented team of proven executives with a relentless drive for
results. Their leadership will play a meaningful role in delivering
profitable growth and positioning JCPenney for success."
To download a copy of this news release, and
access company information, bios and photos, please visit:
https://www.jcpnewsroom.com/news-releases/2019/0416_announces_new_leaders.html
Media
Relations:
(972) 431-3400 or jcpnews@jcp.com
Follow @jcpnews on Twitter for the latest announcements and Company
information.
Investor
Relations:
(972) 431-5500 or jcpinvestorrelations@jcp.com
About
JCPenney:
J. C. Penney Company, Inc. (NYSE: JCP), one of the nation's largest
apparel and home retailers, combines an expansive footprint of over
860 stores across the United States and Puerto Rico with a powerful
e-commerce site, jcp.com, to deliver style and value for all
hard-working American families. At every touchpoint, customers will
discover stylish merchandise at incredible value from an extensive
portfolio of private, exclusive and national brands. Reinforcing
this shopping experience is the customer service and warrior spirit
of approximately 95,000 associates across the globe, all driving
toward the Company's mission to help customers find what they love
for less time, money and effort. For additional information, please
visit jcp.com.
Forward-Looking
Statements
This release may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Words such as "expect" and similar expressions identify
forward-looking statements, which include, but are not limited to,
statements regarding sales, cost of goods sold, selling, general
and administrative expenses, earnings and cash flows.
Forward-looking statements are based only on the Company's
current assumptions and views of future events and financial
performance. They are subject to known and unknown risks and
uncertainties, many of which are outside of the Company's control
that may cause the Company's actual results to be materially
different from planned or expected results. Those risks and
uncertainties include, but are not limited to, general economic
conditions, including inflation, recession, unemployment levels,
consumer confidence and spending patterns, credit availability and
debt levels, changes in store traffic trends, the cost of goods,
more stringent or costly payment terms and/or the decision by a
significant number of vendors not to sell us merchandise on a
timely basis or at all, trade restrictions, the ability to monetize
assets on acceptable terms, the ability to implement our strategic
plan including our omnichannel initiatives, customer acceptance of
our strategies, our ability to attract, motivate and retain key
executives and other associates, the impact of cost reduction
initiatives, our ability to generate or maintain liquidity,
implementation of new systems and platforms, changes in tariff,
freight and shipping rates, changes in the cost of fuel and other
energy and transportation costs, disruptions and congestion at
ports through which we import goods, increases in wage and benefit
costs, competition and retail industry consolidations, interest
rate fluctuations, dollar and other currency valuations, the impact
of weather conditions, risks associated with war, an act of
terrorism or pandemic, the ability of the federal government to
fund and conduct its operations, a systems failure and/or security
breach that results in the theft, transfer or unauthorized
disclosure of customer, employee or Company information, legal and
regulatory proceedings and the Company's ability to access the debt
or equity markets on favorable terms or at all. There can be
no assurances that the Company will achieve expected results, and
actual results may be materially less than expectations. Please
refer to the Company's most recent Form 10-K for a further
discussion of risks and uncertainties. Investors should take such
risks into account and should not rely on forward-looking
statements when making investment decisions. Any
forward-looking statement made by us in this press release is based
only on information currently available to us and speaks only as of
the date on which it is made. We do not undertake to update
these forward-looking statements as of any future date.
###
This
announcement is distributed by West Corporation on behalf of West
Corporation clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: J. C. Penney Company, Inc. via Globenewswire
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