J.C. Penney has appointed Colin Dougherty, an executive with more than 25 years of retail finance experience, its new senior vice president of finance, the company announced this week.
In his new role, Dougherty will be responsible for leading finance strategy, operations, and financial planning and analysis, for the Plano, Texas–based department store chain. He will report to chief financial officer Bill Wafford, who joined the company in March from the Vitamin Shoppe.
“I look forward to welcoming Colin to J.C. Penney to support our focus on returning the company to sustainable and profitable growth,” said Wafford in a statement. “[Dougherty’s] significant retail and transformation expertise make him an excellent addition to our team as we continue to take positive and proactive measures to further strengthen our capital structure and balance sheet while reestablishing the fundamentals of retail operations.”
Dougherty joins J.C. Penney from Storch Advisors, a New York City–based business strategy consulting firm. At Storch, Dougherty advised clients on strategy, growth, mergers and acquisitions, e-commerce, and innovation.
Prior to Storch Advisors, Dougherty served as senior vice president, financial planning and analysis, for Hudson’s Bay Co.—the parent company of Saks Fifth Avenue—where he focused on profit improvement, finance transformation, and strategic sourcing initiatives.
He spent the majority of his retail finance career at Target Corp., joining the company in in 1993 as a financial analyst. During his time at Target, Dougherty assumed financial leadership of divisions including stores, merchandise, financial services, capital, and technology.
In August, Penney appointed Stacey Shively—a senior executive with nearly 25 years of retail merchandising experience—senior vice president and general merchandise manager for its home division. She comes from Bluestem Brands, where she most recently served as senior vice president of merchandising, overseeing name brand and private label merchandise for multichannel retailers Gettington and Fingerhut.
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