More executives exit J.C. Penney
by April 19, 2013 12:54 pm 113 views
Several top executives including chief operating officer Michael Kramer and chief talent officer Dan Walker, have left their posts at J.C. Penney, the company said Thursday (April 18).
These two officers were among several executives hired in November 2011 by Penney's former CEO Ron Johnson, who walked away from the faltering retailer April 8.
The departures are the latest personnel changes from new CEO Mike Ullman, who had been Johnson's predecessor.
In addition to Ullman, the Dallas-based chain also rehired Ken Mangone as executive vice president, design and sourcing.
Mangone is a Penney veteran who helped to bolster the company's store-label brands like St. John's Bay.
He replaces Nick Wooster, a former executive at luxury stores like Neiman Marcus.
Johnson’s strategy had been to attract younger, shoppers with higher incomes and more updated fashion sense than the older more basic boomer audience formerly deemed as loyal coupon-customers at J.C. Penney.
Ullman has vowed to bring back discounts and coupons in hopes of wooing back the retailer’s core shoppers.