With the announcement on Wednesday that current CEO Jill Soltau’s last day would be the next day, Dec. 31, the search begins for her replacement. Some criticized her lack of a sense of urgency and the visible changes at the company under her reign were marginal. New ownership — it resembles Ghidorah, the three-headed monster of Japanese science fiction movies with its many faces — divvied up the proceeds and then on Wednesday dropped the CEO shoe. Then again, the last time Penney did this with Apple’s Ron Johnson it didn’t work out so well. If it sounds like your kind of job, Stanley Shashoua, now the chief investment officer of Simon Property — one of Penney’s new owners — is the interim CEO.

Source: Forbes December 30, 2020 22:07 UTC