PLANO, Texas-Edward Record has been named executive vice president and chief financial officer of J.C. Penney.
Record will succeed Ken Hannah on March 24. Hannah will stay on as the retailer’s financial chief “to ensure a smooth transition,” according to a J.C. Penney statement. The statement did not comment on Hannah’s future plans.
Record will assume charge over the retailer’s financial operations. He will report directly to CEO Myron Ullman III.
Ullman cited Record’s “broad understanding of retail finance and operations” and his “extensive department-store experience.” For more than six years, Record has been with Stage Stores, serving as chief operating office and, before that, as chief financial officer.
Prior to that, Record served as senior vice president of finance at Kohl’s and senior vice president of finance and controller at Belk. Earlier in his career, he held several finance positions with Federated Stores (now Macy’s).