Report: HSN’s Mindy Grossman declined J.C. Penney CEO offer
Plano, Texas – Mindy Grossman, the chief executive of HSN Inc., reportedly declined an offer to become CEO of J.C. Penney Company in May 2014. According to the Wall Street Journal, Grossman had been in advanced negotiations with Penney to take the reins as CEO but discussions ended for an unspecified reason.
Grossman, a fomer Nike Inc. executive, took the reins of HSN in 2006. Under her watch, HSN has undertaken a host of leading-edge digital initiatives and also taken on more of a upscale image. Industry experts noted that while Grossman is widely admired throughout the retail industry, she has never run brick-and-mortar stores, which remain crucial to Penney’s business.
Penney has been searching for about a year for a permanent replacement for interim CEO Myron “Mike” Ullman, its former chief executive who temporarily returned to the company after CEO Ron Johnson was removed following a disastrous 17-month stint in April 2013. Activist investor William Ackman, who has since sold his stake in Penney, pressured the company at the time to immediately start searching for a permanent CEO and make a hire as soon as possible.
Penney is currently evaluating other finalists for the CEO role, but no appointment is imminent, Reuters said.
Penney is not the only big retailer on the hunt for a chief executive. To see the others, click here.
Study: Data breaches erode consumer trust
Austin, Texas – Thirty-five percent of consumers would stop shopping at a store where their data was hacked. According to a recent survey of almost 2,000 consumers by software consulting firm Software Advice, another 22% would be much less willing to shop there.
Meanwhile, if their confidence in a retailer’s data were secure, 33% of consumers would be much more likely to shop there and 22% would be somewhat more likely. And while 33% of consumers feel safe overall when using a credit card and 13% feel very safe, 22% feel increasingly concerned and 7% expect to get hacked. Twenty-five percent of consumers do not use credit cards.
In addition, only 20% of respondents would feel more confident if a retailer communicated that they are taking security measures to protect their personal data.
Michael Kors names Hugo Boss Americas head as menswear president
Hong Kong – Michael Kors has named Mark Brashear to the newly created role of president of men’s. Brashear was most recently at Hugo Boss, where he held the position of CEO and chairman, Americas. Prior to his five-year tenure at Hugo Boss, Brashear was president of Faconnable from 2001 to 2008 and executive VP, Southwest Unit, at Nordstrom, where he worked from 1993 to 2001.
“In the coming months we are launching a men’s fragrance, introducing a new collection of men’s watches and opening our first flagship store to feature the full men’s offering, in SoHo,” said John D. Idol, chairman and CEO of Michael Kors. “The addition of Mark to our team now enables us to build substantially on the momentum we’ve created.”