Target Exec Joins J.C. Penney as New President



On Oct. 3, Michael R. Francis, 48, was named the new president of J.C. Penney Company.

Francis, who was most recently executive vice president and chief marketing officer of Target, will report to incoming J.C. Penney CEO Ron Johnson, who formerly headed the Apple chain.

Francis will be responsible for the company’s merchandising, marketing, planning and allocation, product development, and sourcing functions. He has 25 years of retail experience, and has been with Target since 1990.

Johnson said in a statement that Francis’ “ability to innovate and deep understanding of the industry will be invaluable as we set out to transform J.C. Penney into America’s favorite store.”