Plano, Texas — J. C. Penney Company, Inc. has named Ed Record executive VP and CFO, effective March 24. He will succeed Ken Hannah, who will remain CFO through that date to ensure a smooth transition.
As CFO, Record will be responsible for the financial operations of the company. He will report to Myron E. (Mike) Ullman III, CEO of J.C. Penney, and join the company`s executive board.
Record, 45, has nearly 25 years of experience managing the financial and operational performance of multiple retailers. He spent over six years at Stage Stores, most recently serving as COO and prior to that, CFO. Before Stage, Record served as senior VP of finance at Kohl’s and as controller and senior VP of finance at Belk. Earlier in his career, he held a variety of finance positions of increasing responsibility at Federated Stores, leading to his eventual appointment as controller and VP of finance.
"Ed is a highly accomplished executive with a broad understanding of retail finance and operations,” said Ullman. “His extensive department store experience and track record of success make him an ideal candidate as we continue to advance our turnaround. On behalf of myself and the entire J.C. Penney team, I would like to thank Ken Hannah for his meaningful contributions to our turnaround and wish him success in his future endeavors."