JCPenney: appoints new CFO; shares rise.
(CercleFinance.com) - JCPenney named a new chief financial officer as the US retailer seeks to boost revenue growth and improve cash flow and profitability.
Shares in JCPenney rose 2.5 per cent to more than 5.2 dollars in morning trading on Tuesday, as it named former Darden Restaurants executive Jeffrey Davis as chief financial officer, effective today.
Davis most recently served as chief financial officer at Darden Restaurants, overseeing finance and accounting, corporate reporting, tax, internal audit, treasury and investor relations.
He also maintained oversight of Darden's real estate acquisitions, as well as the company's restaurant development.
Prior to Darden, Davis served as executive vice president and chief financial officer for Walmart U.S. stores.
The shakeup came after Edward Record stepped down last month from his CFO position to pursue other interests.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Shares in JCPenney rose 2.5 per cent to more than 5.2 dollars in morning trading on Tuesday, as it named former Darden Restaurants executive Jeffrey Davis as chief financial officer, effective today.
Davis most recently served as chief financial officer at Darden Restaurants, overseeing finance and accounting, corporate reporting, tax, internal audit, treasury and investor relations.
He also maintained oversight of Darden's real estate acquisitions, as well as the company's restaurant development.
Prior to Darden, Davis served as executive vice president and chief financial officer for Walmart U.S. stores.
The shakeup came after Edward Record stepped down last month from his CFO position to pursue other interests.
Copyright (c) 2017 CercleFinance.com. All rights reserved.