March 2, 2018 / 1:03 PM / in 5 months

BRIEF-JCPenney Announces Strategic Realignment Of Its Senior Leadership Team

March 2 (Reuters) - J C Penney Company Inc:

* JCPENNEY ANNOUNCES STRATEGIC REALIGNMENT OF ITS SENIOR LEADERSHIP TEAM

* J C PENNEY COMPANY INC - INITIATES PERSONNEL ACTIONS TO STREAMLINE JOB FUNCTIONS AND REDUCE EXPENSES

* J C PENNEY COMPANY INC - APPOINTMENT OF JOE MCFARLAND AS EXECUTIVE VICE PRESIDENT AND CHIEF CUSTOMER OFFICER

* J C PENNEY COMPANY INC - ‍ JODIE JOHNSON HAS BEEN PROMOTED TO HEAD OF MERCHANDISING FOR WOMEN’S, BEAUTY AND FAMILY FOOTWEAR​

* J C PENNEY COMPANY INC - ‍JODIE JOHNSON HAS BEEN PROMOTED TO HEAD OF MERCHANDISING FOR WOMEN’S, BEAUTY AND FAMILY FOOTWEAR​

* J C PENNEY COMPANY INC - APPROXIMATELY 130 HOME OFFICE POSITIONS WERE ELIMINATED ACROSS VARIOUS DEPARTMENTS

* J C PENNEY COMPANY INC - ‍JAMES STARKE HAS BEEN PROMOTED TO HEAD OF MERCHANDISING FOR MEN’S, CHILDREN’S, HOME AND JEWELRY​

* J C PENNEY COMPANY INC - ‍ THERACE RISCH WILL ASSUME TITLES OF CHIEF INFORMATION OFFICER AND CHIEF DIGITAL OFFICER​

* J C PENNEY COMPANY INC - APPROXIMATELY 230 POSITIONS WERE ELIMINATED DUE TO REALIGNMENT

* J C PENNEY COMPANY INC - ANNUAL COST SAVINGS GENERATED FROM HOME OFFICE AND STORE REORGANIZATION ARE ESTIMATED AT APPROXIMATELY $20-$25 MILLION

* J C PENNEY COMPANY - ADDITIONALLY, CO RECENTLY RESTRUCTURED ITS GROUP, REGIONAL, DISTRICT AND STORE SUPPORT TEAMS

* J C PENNEY COMPANY INC - ‍AS A RESULT OF THERACE RISCH’S APPOINTMENT MIKE AMEND WILL BE LEAVING COMPANY​ Source text for Eikon: Further company coverage:

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