JCPenney Co.

Plano, Texas -- J. C. Penney Company announced the promotion of Brynn Evanson to EVP human resources, leading all HR functions across stores, supply chain and the home office, including team member relations, recruiting, learning and development, compensation and benefits, and talent operations. Evanson will join the company`s executive board, reporting to CEO Myron E. (Mike) Ullman, III.

Evanson, 44, joined J.C. Penney in 2009 and most recently served as VP compensation, benefits and talent operations.
 

By Leslie Hand, research director, IDC Retail Insights

Ron Johnson's highly publicized short tenure at J.C. Penney, or JCP, as it was rebranded, will certainly make it into the textbooks and graduate theses on what to do and what not to do when undertaking a significant retail business transformation. The primary failure was not putting customer needs first in what promised to be an excellent long term strategy. Oops — forget the customer in an omni-channel customer strategy?

What a colossal mistake!

PLANO, Texas — J. C. Penney has promoted Brynn Evanson to EVP of human resources. Evanson will lead all HR functions across stores, supply chain and the home office, including team member relations, recruiting, learning and development, compensation and benefits and talent operations. She will also join the company's executive board, reporting to CEO Myron E. Ullman.

New York -- A Monday report by Reuters said that J.C. Penney has begun selling the Martha Stewart “JCP Everyday” lines of home goods, without waiting for a decision from the New York court.

According to Reuters, Penney general merchandise manager Paul Rutenis testified in New York State Supreme Court on Monday that "as of today, those products are on the floor and online."

New York -- J.C. Penney announced Thursday that its COO Michael Kramer has resigned, along with chief talent officer Daniel Walker – bringing Penney’s April executive casualty number to five. Both resignations had been previously reported.

Kramer’s resignation was disclosed via a Securities and Exchange filing. He walked away with a $2+ million cash payment.

The two latest resignations follow CEO Ron Johnson’s departure last week, along with product development lead Nick Wooster and marketing VP Sissie Twiggs.

NEW YORK — The revolving door continues to turn at Penney with the news that Ron Johnson-appointee Nick Wooster, SVP of product and design is out while company veteran Ken Mangone has returned to the fold. 

Mangone, who left Penney last December after 35 years with the company, is returning to his previous post as EVP of product development, design and sourcing. His return is one of new CEO Myron Ullman’s first major moves in personnel.

New York -- The Wall Street Journal reported Thursday that J.C. Penney is now in talks with Wells Fargo and at least two other investment firms, seeking a $500 million loan to shore up the beleaguered retailer’s cash reserves.

Citing unidentified sources, WSJ said that Penney is also in talks with private-equity firm TPG and with investment company Gordon Brothers, along with Wells Fargo, as Penney casts a wider net to stay afloat.

Denton, Texas -- The MGHerring Group and Cencor Realty Services said that The Buckle will open a store at Golden Triangle Mall, located in Denton, Texas.

Buckle will occupy 5,040 sq. ft. and will open in fall 2013. In addition, the list of new tenants includes food court eateries Italia Express, Tobu Oriental Eatery and Smoothie Paradise.

New York -- A New York judge on Thursday rejected a request by Macy's to block J.C. Penney from selling Martha Stewart goods under the "JCP Everyday" label for now, while it appeals a ruling allowing the sale. An order temporarily barring Martha Stewart from selling goods branded with her name at J.C. Penney's is still in place.

J.C. Penney late Thursday announced that chief operating officer Michael W. Kramer had left the company.

His departure was disclosed in an 8-K filing with the Securities and Exchange Commission. In connection with Kramer’s departure, he received a lump sum cash payment of $2,143,414. In addition, the company also disclosed that Daniel Walker had resigned as the company’s chief talent officer.