US-based apparel and home furnishing retailer JCPenney has roped in Joann Stores ex CEO and President Jill Soltau as its new CEO. Jill has over 30 years of experience in the retail sector and she has also served as the President of Shopko Stores.
The company has fulfilled the role, 5 months after its previous CEO left Marvil Ellison left the firm in a bid to join Lowe’s Cos. The biggest challenge for the Jill will be to rejuvenate the brand’s consistently declining sales, as shoppers nowadays are shifting towards the online market.
On her appointment as the CEO of JCPenney, Soltau said that JCPenney is a typical American brand with a strong and loyal customer base, and I am thrilled about taking charge of such an iconic brand in the industry.
“I am highly passionate about the consumers and I spent my whole career to cater to the needs of a value-based customer by researching, understanding and meeting her expectations for style, quality and inspiration. Every position I’ve held has prepared me for this role, and I couldn’t be more thrilled to meet and start working with the highly talented and hard-working JCPenney teams,” Jill said.
Notably, JCPenney, that has witnessed a downfall in its last three years, reported a bigger-than-expected loss in Q2 and cut its full-year profit forecast in August.
While working with her previous companies, Jill reportedly managed to turnaround their fortunes. Paul Brown, Chairman, JCPenney’s search committee highlighted this fact and cited that her previous work has made her an ideal choice for the company in the current scenario.