Saturday November 22, 2014

J.C. Penney CFO out as executive management upheaval continues

J.C. Penney CFO Michael Dastugue is leaving the company after just 15 months on the job, and will be replaced on an interim basis by COO Michael Kramer.

“Michael Dastugue is out on Friday as J.C. Penney’s financial chief after just 15 months on the job,” confirms the Wall Street Journal, “a move that follows a seismic shift in the company’s top management and strategic vision since Dastugue assumed the CFO role in January 2011.” COO Michael Kramer, who joined the department-store retailer late last year, has agreed to serve as interim CFO until a permanent successor is named.

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