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J C Penney Company Inc (NYSE:JCP) On A Hunt For Top Merchandising Position, A New Chief Merchant

J C Penney Company Inc (NYSE:JCP) recently announced that it is now on a hunt for new chief merchant, who would succeed the present executive, Elizabeth H. Sweney. The designation, which is said to be the top most in the hierarchy of J C Penney Company Inc’s merchandising job, was held by Elizabeth H. Sweney since 2012.

From within or outside?

As J C Penny undertakes a lot of marketing and strategic changes, this can be seen as a management change. There is a lot going on in the company and therefore, according to the Wall Street Journal, it is yet not clear whether the new executive shall be from within the company or someone who is not connected to J C Penny at all.

The recruitment of this designation is being done by the CEO, Marvin Ellison, who has already approached a few of the big names in retail industry. The Wall Street Journal reported that Marvin Ellison may look for someone who has years of withstanding in this niche, partly because his experience in merchandising is not quite impressive. It is for this reason that hunting the new executive for this designation is at the top of the mind of J C Penny’s CEO.

Big retailers on management changes spree

J C Penny would become the latest retailer to join the bandwagon of those who have recently done so. Of late, many of the retailers have made vital changes to the top level management in the hierarchy of company. With the changes in industry due to technological advancements, these companies are either redefining the roles of executives or appointing the new ones. The designation of Chief Merchant is said to be that of #2 in the hierarchy of commandants. It is this person who is assigned the role of picking up the right kinds of items for the store.

Marvin Ellison joined J C Penney Company Inc (NYSE:JCP) in November 2014 and since then he has been trying to break the doom over the company that existed because of deep losses and struggling sales.

Published by Duncan Oleinic

Duncan Oleinic is from New Yourk. After graduating with a degree in physics, he began his career as an analyst in a broking firm. Through this experience he was able to advance to the role of correspondent for a U.S based financial news provider, where he worked from 2001 to 2007. He subsequently joined a merchant banking firm as a financial analyst focused on valuing unlisted companies in the sub-continent. Over the course of his two years here, he performed valuations of several media companies which were later acquired by peers.

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