JCPenney has announced the appointment of Marc Rosen as chief executive officer.
Rosen, who previously held leadership positions at Levi Strauss & Co and Walmart, will bring retail and e-commerce experience to the role. Rosen is also currently on the Board of Directors of Inspire Brands, a multi-brand restaurant company with more than 32,000 chain restaurants worldwide. The appointment will be effective from November 1.
Other changes within the company include Stanley Shashoua, Simon’s chief investment officer, joining JCPenney as executive chairman of the Board of Directors. Shashoua has been serving as interim CEO of JCPenney since January.
“Marc joins JCPenney following a year of work focused to stabilize the business, improve financials, and position the retailer for long-term success,” said Shashoua of Rosen’s appointment.
Of Rosen’s experience within leadership roles, Shashoua said that it made him “the perfect fit to lead the next chapter of the Company’s transformation.”
“I am humbled by the opportunity to lead this storied brand and build on the progress the JCPenney team has made under their new ownership group,” said Rosen. “I have spent my career focused on iconic American retailers and it has given me a unique perspective on the value of heritage brands.”
During the past year, JCPenney has reworked and added to its national brands. Six new private brands have been added, with brands such as Ryegrass, Linden Street, Thereabouts, Stylus and Juicy by Juicy Couture joining the JCPenney line up. With around 670 stores open in the US, JCPenney will celebrate 120 years of business in 2022.
“I am eager to propel the business to its next era and connect with our customers in new ways,” said Rosen.