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JCPenney’s CFO Jeffrey Davis steps down

By Prachi Singh

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Report

J. C. Penney Company, Inc. announced that Jeffrey Davis, executive vice president and chief financial officer has decided to leave the business effective October 1 to pursue another opportunity. The company said, Jerry Murray, senior vice president of finance, will assume the position of interim chief financial officer, reporting directly to the office of the CEO.

"On behalf of our board and leadership team, I want to thank Jeff for his service to JCPenney," said Ronald W. Tysoe, Chairman of the JCPenney board in a statement, adding, "His leadership has been instrumental as both the company's chief financial officer and as a member of the office of the CEO."

Murray had joined the company in February 2016 after serving as chief financial officer for Valassis, a multimedia marketing firm. As interim CFO, the company said, he will report into the office of the CEO members Therace Risch, Chief Information and Digital Officer, and Mike Robbins, Executive Vice President of private brands and supply chain.

"I am grateful for my time with the company, leading some of the most talented teams in retail during a time of transition. I have every confidence that JCPenney has the experience and determination to persevere and strengthen its position as one of America's leading retailers," added Davis.

Picture credit:JCPenney newsroom

JCPenney
Jeffrey Davis