J.C. Penney Loses 2 More Execs

Barely a week after ousting embattled Chief Executive Officer Ron Johnson, J.C. Penney (NYSE: JCP  ) announced two more executive departures at the troubled department store chain Thursday.

In SEC filings today, Penney said that, on April 17, Chief Operating Officer Michael W. Kramer "left" the company. The circumstances surrounding his departure were not explained, although J.C. Penney did note that Kramer is being paid a lump sum of $2.1 million cash in connection with his departure.

A simultaneous SEC filing revealed that on April 12 (i.e. six days ago), Chief Talent Officer Daniel E. Walker "voluntarily" resigned from the company. No payment was described as taking place in that departure.

J.C. Penney shares rose 2.6% in regular trading, to close at $15.16.


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9/28/2016 4:01 PM
JCP $9.55 Down +0.00 +0.00%
J.C. Penney CAPS Rating: *