JCPenney reports finance department changes

PLANO, Texas William Alcorn, senior vp, controller and chief procurement officer for non-resale goods and services for JCPenney, will retire from the company effective June 3. Alcorn joined the company in 1971, and has held several positions of increasing responsibility in the company's auditing, credit and controller's departments.

In addition to Alcorn's retirement, JCPenney reported new appointments in its finance department. Dennis Miller has been promoted to senior vp, controller, succeeding Alcorn in his controller responsibilities. In this role, he will direct the development and maintenance of accounting records, financial accounting systems, internal controls and procedures for the company. Miller will report to Cavanaugh.

Miller joined JCPenney in 1974, and has served in various senior executive positions in the company's auditing, controller's and procurement departments. During his tenure, he served on assignment at Eckerd Drugstores, which was formerly owned by JCPenney, as controller and subsequently as cfo.

Bruce Kilkowski has been named vp and director of procurement, succeeding Miller in his procurement responsibilities. Kilkowski will be responsible for directing all procurement activities for non-resale goods and services in support of enterprise-wide strategies and requirements. He will report directly to Cavanaugh.

Kilkowski brings 29 years of experience in procurement and sourcing at large corporations, including Procter & Gamble, First USA Bank, Capital One Financial and Underwriters Labs. He joins JCPenney from Bank of America where he served most recently as vp of procurement.

Robert Johnson has been named vp and director of planning, budgeting and forecasting. In this new role, Johnson will be responsible for leading the development of corporate budgets, and integrating financial analysis and strategies that will impact budget formulation, execution and forecasting processes. He will report to Tom Clerkin, senior vp of finance.

Johnson joined JCPenney in 1976, and has held positions of increasing responsibility within the finance organization. Currently, he serves as vp and director of investor relations, a position he has held since 2005.

Phillip Sanchez has been promoted to vp and director of investor relations, responsible for leading the company's investor relations functions as the principal company interface with the financial community.

Sanchez brings over 20 years of financial management experience to his new role. He most recently served as a divisional vp, associate director of investor relations, a position he has held since September 2007. Prior to that, he served as divisional vp, assistant treasurer, focused on enhancing the productivity of the company's asset base and capital structure in support of JCPenney's growth initiatives. Sanchez will report to Cavanaugh.