In a strong signal that it will focus on e-commerce to revive a bankruptcy forced by a pandemic, JCPenney appointed Marc Rosen as CEO, effective November 1. Rosen brings more 25 years of retail and e-commerce experience in this new role, most recently as Executive Vice President and President of Levi Strauss Americas at Levi Strauss & Co. As head of the company’s Digital Enterprise Office, he led the digital strategy for one of the world’s largest designer clothing companies. Before that, Rosen passed 14 years at Walmart in a variety of senior management roles, ultimately serving as senior vice president of global e-commerce.
JCPenney was bought by mall owners Brookfield Real Estate Partners and Simon Real Estate Group in September 2020 for $ 1.75 billion, with the participation of Authentic Brands Group. The purchase follows JCPenney’s May 2020 bankruptcy filing, which included plans to close 242 stores. The nearly 120-year-old department store chain currently operates 670 stores all over the country.
Rosen succeeds Stanley Shashoua, Simon’s CIO who was appointed CEO of JCPenney in January 2021. Following Rosen’s appointment, Shashoua will lead the retailer’s board of directors as executive chairman.
“I have spent my career focusing on iconic American retailers and this has given me a unique perspective on the value of heritage brands,” Rosen said in a statement. “As I join this pivotal moment in the company’s history, I look forward to propelling the company into its next era and connecting with our customers in new ways. “