Uso de cookies Utilizamos cookies propias y de terceros para mejorar nuestros servicios y mostrarle publicidad relacionada con sus preferencias mediante el análisis de sus hábitos de navegación. Si continúa navegando, consideramos que acepta su uso. Puede obtener más información sobre nuestra: Política de cookies

The global fashion business journal

23 Sep 201904:36

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.

30 Oct 2018 — 17:13

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). 

Participation rules


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