Joann Stores on hunt for a new CEO

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Joann Stores on hunt for a new CEO

By Marianne Wilson - 10/02/2018
J.C. Penney’s gain is Joann Stores’ loss.

Joann Stores is on the hunt for a new chief executive in the wake of the departure of Jill Soltau who has resigned as president and CEO, effective immediately, to take the top spot at J.C. Penney. Wade Miquelon, executive VP and CFO will serve as interim president and CEO of Joann, while continuing in his current role as executive VP and CFO, while the board conducts an executive search process.

“On behalf of the board of directors, I want to thank Jill for her leadership and vision to achieve sustained, profitable growth during her tenure at Joann, and wish her the best in her future endeavors,” said John Yoon, principal, Leonard Green & Partners, which acquired Joann in 2011.

Miquelon joined Joann as executive VP and CFO in March 2016 and partnered with Soltau to advance a strategic growth plan that includes revitalized branding, refreshed merchandising strategy, expanded digital capabilities, and customer-focused storefront innovation, the company said. Previously, he was executive VP, CFO and president of international at The Walgreen Company.

Joann operates more than 865 stores across 49 states.

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