JCPenney Charts A Fresh Course And Initiates A Search For A New CEO

PLANO, Texas — December 30, 2020 — JCPenney’s new ownership group — consisting of Simon Property Group and Brookfield Asset Management, along with strategic partner Authentic Brands Group — have launched a search for a CEO to replace Jill Soltau, who will be exiting the company effective December 31, 2020. The search will seek to identify a leader that is focused on modern retail, the consumer experience, and the goal of creating a sustainable and enduring JCPenney.

With a successful track record of turning around retailers and brands and restoring them to profitability, JCPenney’s new ownership group will establish a temporary office of the CEO to include key members of JCPenney’s current leadership team. Stanley Shashoua, Simon Property Group’s Chief Investment Officer, will be appointed interim CEO effective January 1, 2021.

Posted December 31, 2020

Source: JCPenney