J.C. Penney Hires Pandora Exec, Won’t Be Delisted

J.C. Penney has named Karl Walsh (pictured), who formerly headed the e-commerce division of Pandora Jewelry, its senior vice president and chief digital officer.

Walsh joined the retailer on Dec. 2.

Until recently, Walsh served as chief digital officer and senior vice president of e-commerce for Pandora, which he joined in January 2018. There, he grew Pandora’s global e-commerce business and increased cross-channel consumer engagement, according to a Penney statement.

Previously, he led the U.S. consumer e-commerce and digital practice for Boston Consulting Group and worked in the consumer and retail practice division for McKinsey & Co., another consulting firm.

Walsh will report to Shawn Gensch, Penney’s executive vice president and chief customer officer, who joined the company in May.

“Nearly 90 percent of shoppers begin their path to purchase online, so Karl’s background of building and executing digital strategies for global brands will help us improve our e-commerce offering and drive traffic across all channels,” said Gensch in a statement.

In related news, the department store chain also announced that it won’t be regulated to the stock exchange bargain rack.

In a Dec. 2 filing with the Securities and Exchange Commission, it notified shareholders that it no longer faced the threat of being delisted from the New York Stock Exchange.

On that day, Penney was informed that it had regained compliance with the exchange’s minimum average share price listing requirement—that a company’s stock trade at an average closing price of $1 over a consecutive 30-trading-day period—according to the filing.

On Aug. 6, the venerable retailer received a warning from the NYSE that it faced delisting if it didn’t get its stock price over $1 for 30 days. It was given six months or until its next shareholder meeting to regain compliance.

At press time, J.C. Penney’s stock was trading at $1.15 per share.

(Image courtesy of Pandora Jewelry)

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JCK News Director