We inform you that on this website we use our own and third-party cookies to collect information about its use, improve our services and, where appropriate, display advertising by analyzing your browsing habits. You can expressly accept its use by pressing the "ACCEPT" button or configure and select the cookies you want to accept or reject in the settings. You can also get more information about our cookie policy here.

The global fashion business journal

Mar 19, 20249:40am

JC Penney’s leadership keeps changing, Walmart executive new CFO

The American giant, which has been led by a new CEO since October, has now hired by Michael Fung to lead the financial area temporarily.

Oct 30, 2018 — 5:13pm
Mds
Save

JC Penney’s leadership keeps changing and signs someone from Walmart again to pilot finances

 

 

JC Penney continues protecting its senior management.  The US company of department stores has hired Michael Fung, until now Walmart’s financial manager, to lead precisely the financial area of the corporation. The designation of Fung occurs barely a week after the departure of Jeff Davis, the former interim CFO.

 

Fung has on his back a career of 23 years working in the financial and operations area, occupying for more than a decade Walmart’s senior positions. Before joining the United States retail giant, the executive also controlled the financial areas of companies from other sectors.

 

For the time being, JC Penney hires Fung to replace Jerry Murray, who took the interim role once Davis left it. Murray, for his part, will retake again his position as senior vice-president of finance. Interestingly, his predecessor in the role was a Walmart ex-executive too.

 

With this incorporation, the US retail brand reloads its leadership once more. Jill Soltau also joined the company becoming its new general manager some weeks ago, after the departure of Marvin Ellison which took place last May.

 

The group ended 2017 with 116 million dollars (94 million euros) losses. Revenues amounted to 12.5 billion dollars (10.2 million euros). 

Advertising
Participation rules

info@themds.com

 

Validation policy for comments: 

 
MDS does not perform prior verification for the publication of comments. However, to prevent anonymous comments from affecting the rights of third parties without the ability to reply, all comments require a valid email address, which won’t be visible or shared.
 
Enter your name and email address to be able to comment on this news: once you click on the link you will find within your verification email, your comment will be published.

0 comments — Be the first to comment
...