JCPenney CFO Edward Record steps down

J. C. Penney Company announced in a statement that Edward Record has informed the company of his intention to step down from his position as executive vice president, chief financial officer effective July 11 to pursue other interests. The company said, Record will remain with the company in an advisory capacity until August 7 to assist with the transition while a search for his replacement is conducted. Additionally, Andrew Drexler, Senior Vice President, Chief Accounting Officer and Controller, will assume the position of Interim Chief Financial Officer along with his current duties.