A Levi’s exec will be wearing the pants around J.C. Penney.
The 670-door department store has appointed Marc Rosen (pictured), a top Levi’s executive with extensive e-commerce experience, as its new CEO, effective Nov. 1.
He replaces Stanley Shashoua—the chief investment officer of Simon Property Group, the nation’s largest mall owner—who has been serving as interim CEO since January. Simon and Brookfield Asset Management, another shopping center owner, bought J.C. Penney last year after it exited Chapter 11.
With this shift, Shashoua will become executive chairman of J.C. Penney’s board of directors.
Rosen is the company’s sixth CEO in the last decade.
Until recently, he served as the executive vice president and president of Levi Strauss Americas, where he led commercial operations for the Levi’s, Dockers, Signature by Levi Strauss & Co., and Denizen brands. He also led the company’s global e-commerce and retail businesses, overseeing some 3,000 stores.
Prior to Levi Strauss & Co., Rosen spent 14 years at Walmart, where his final position was senior vice president of global e-commerce. He began his career at Ernst & Young, offering strategic retail advisory services.
“I am humbled by the opportunity to lead this storied brand and build on the progress the J.C. Penney team has made under their new ownership group,” Rosen said in a statement. “I have spent my career focused on iconic American retailers and it has given me a unique perspective on the value of heritage brands.”
Shashoua said in the same statement that Rosen “joins J.C. Penney following a year of focused work to stabilize the business, improve financials, and position the retailer for long-term success.”
The department store will turn 120 years old in 2022.
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