JCPenney (JCP) Taps More Apple (AAPL) Talent with New COO Appointment
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JCPenney Co. (NYSE: JCP) is making some smart moves with new executive appointments. Earlier Monday, the retailer announced the hiring of Michael Kramer to fill the role of COO, responsible for Finance, Investor Relations, Corporate Strategy, and Information Technology.
Notably, from his bio: "Since 2008, he has been president and chief executive officer of Kellwood Company, where he oversaw a portfolio of premier fashion brands, including Scotch & Soda, Vince, Rebecca Taylor, ADAM, BLK DNM, David Meister and XOXO, among many others. Prior to that, he was executive vice president and chief financial officer at Abercrombie & Fitch. From 2000 to 2005, he was at Apple, Inc., where, as chief financial officer of Apple Retail, he worked directly under Mr. Johnson" (emphasis ours).
Apprently Ron Johnson, who was brought over from Apple (Nasdaq: AAPL) in June to become CEO, thought so highly of Kramer, he brought him on JCPenney's payroll although the two haven't worked together for about six years.
Shares of JCPenney are down 0.5 percent at last check.
Notably, from his bio: "Since 2008, he has been president and chief executive officer of Kellwood Company, where he oversaw a portfolio of premier fashion brands, including Scotch & Soda, Vince, Rebecca Taylor, ADAM, BLK DNM, David Meister and XOXO, among many others. Prior to that, he was executive vice president and chief financial officer at Abercrombie & Fitch. From 2000 to 2005, he was at Apple, Inc., where, as chief financial officer of Apple Retail, he worked directly under Mr. Johnson" (emphasis ours).
Apprently Ron Johnson, who was brought over from Apple (Nasdaq: AAPL) in June to become CEO, thought so highly of Kramer, he brought him on JCPenney's payroll although the two haven't worked together for about six years.
Shares of JCPenney are down 0.5 percent at last check.
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