J.C. Penney Has a New Chief Financial Officer and It’s This Guy

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Struggling retailer J.C. Penney has named a new CFO and executive vice president this week.

The position belongs to Bill Wafford, who has previously worked at The Vitamin Shoppe, Walgreens Boots Alliance, Bank of America, KPMG, and even Target.

Walford is taking over for Michael Fung who previously had the position and will start on April 8th.

The Vitamin Shoppe also announced that Wafford had resigned, effective April 5th.

“Bill brings extraordinary depth and breadth of experience to our executive team. His first-hand knowledge and understanding of financial turnarounds will help JCPenney deliver improved results and drive profitable growth,” said Jill Soltau, CEO of JCPenney.

“I am delighted to welcome Bill to our team of highly talented retail experts. Together we will work to make meaningful progress and deliver an engaging and rewarding shopping experience for our customers. I also wish to thank Michael Fung for joining the organization several months ago and providing invaluable expertise as interim CFO while we completed the search for an accomplished successor,” Soltau added.

Most recently Walford was the executive vice president, chief financial officer for The Vitamin Shoppe where he oversaw all aspects of the company’s finance strategy and execution including accounting, real estate, international operations, mergers and acquisitions, corporate strategy, advanced analytics, investor relations, procurement and internal audit functions.

Disclaimer: We have no position in J C Penney Company Inc. (NYSE: JCP) and have not been compensated for this article.

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