Former Wal-Mart Stores executives Karenann Terrell and Jeff Davis have landed new executive roles with one of the retail giant’s suppliers, and a competitor.
Terrell was recently named chief digital and technology officer for drug maker GlaxoSmithKline, a position she will begin on Sept. 4. Terrell exited her role as chief information officer for Wal-Mart in February, a job she held for more than six years. She held the same role at Baxter international for four years before joining Wal-Mart. Terrell also spent about eight years in executive roles with DaimlerChrysler and General Motors.
“The impact of technology on the healthcare industry is accelerating and requires us to rethink our approach,” GSK CEO Emma Walmsley noted in a release announcing Terrell’s hiring. “As a member of the executive team, Karenann will have the scope to think radically about how we can exploit the latest opportunities and ultimately improve our business performance.”
Jeffrey Davis, former chief financial officer at Wal-Mart, joined Plano, Texas-based J.C. Penney Co. in the same role. Davis exited Wal-Mart in May 2015 and worked as CFO for Darden Restaurants in the interim. In this new position with JCPenney, Davis will earn a base salary of $700,000 with bonus potential for another $525,000 if certain financial metrics are hit. The department store said Davis’ salary will be prorated for this fiscal year.
“He brings decades of finance, treasury and strategy experience from a host of leading companies, and will make an outstanding addition to our team,” JCPenney’s CEO Marvin Ellison said in a Monday (July 24) news release. “Jeff’s expertise will also be a tremendous asset to JCPenney as we continue to differentiate our business in a competitive retail climate and further strengthen our balance sheet moving forward.”
In his role, Davis will be responsible for all financial operations of the company, including the oversight of finance teams at the JCPenney’s home office and shared services center in Salt Lake City.
Among his primary objectives will be to continue the company’s progress in identifying earnings growth opportunities, optimizing pricing, exercising SG&A discipline, managing inventory levels and deleveraging debt, the company noted in the release.