J. C. Penney Co. Inc. (NYSE: JCP) on Sept. 27 announced that the company’s chief financial officer, Jeffrey Davis, is resigning effective Oct. 1 to pursue another opportunity. Jerry Murray, senior vice president of finance, will assume the position of interim chief financial officer, reporting directly to the Office of the CEO.
“On behalf of our board and leadership team, I want to thank Jeff for his service to JCPenney,” said Ronald W. Tysoe, chairman of the JCPenney board. “His leadership has been instrumental as both the Company’s chief financial officer and as a member of the Office of the CEO. We wish him much success in his future endeavors, and we thank Jerry for stepping in to assume this leadership role.”
Murray joined the Plano-based company in Feb. 2016 after serving as chief financial officer for Valassis, a multimedia marketing firm. As interim CFO, he will report into the office of the CEO members Therace Risch, chief information and digital officer, and Mike Robbins, executive vice president of private brands and supply chain. The company will commence a formal search for Davis’ successor, reviewing both internal and external candidates.