JCPenney Ownership Group Starts Search for New CEO
December 30 2020 - 2:22PM
Dow Jones News
By Chris Wack
JCPenney's new ownership group, consisting of Simon Property
Group and Brookfield Asset Management, along with strategic partner
Authentic Brands Group, have begun a search for a chief executive
to replace Jill Soltau, who will be leaving the company
Thursday.
The company said the search will look to find someone who shares
the goal of creating a sustainable and enduring JCPenney.
JCPenney said the ownership group will establish a temporary
office of the CEO to include members of JCPenney's current
leadership team. Stanley Shashoua, Simon Property Group's chief
investment officer, will be appointed interim CEO, effective Jan.
1.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
December 30, 2020 14:07 ET (19:07 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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