Soltau is a solid merchant, and I think she can energize the company and bring new ideas to the enterprise. She has three decades of experience in softlines retail. Appreciating the One of a Kind Cadillac Mirage. Soltau was JC Penney’s choice following a search for their new CEO, which makes sense because the retailer is not on the firmest footing at the moment, thus making their choice that much more important. Jill Soltau is 52, she's been the Chief Executive Officer and Director of J. C. Penney Co since 2018. The hope, now, is that Soltau will be able to help turn things around. J.C. Penney's Jill Soltau looks to revitalize the brand. Some of the articles that covered the announcement made mention of Soltau’s ability to inspire the people around her as well, which is always a good characteristic for CEOs and other members of senior management to have. J.C. Penney
Jill Soltau is the current CEO of JC Penney. Soltau, who joined Penney in October, is reassembling the retailer's C-suite after a series of defections followed the departure last May of CEO Marvin Ellison, who left the company to become CEO at home improvement retailer Lowe's. She replaces Marvin Ellison, who resigned this summer after four years to become CEO of the Lowe’s home improvement chain. Both Soltau and Ellison were informed at their hiring that their “annual target bonus opportunity” would be 150% of the base salary, and the “maximum bonus opportunity” would be 300% of the base salary. He called her an excellent leader. Photographer: Christopher Dilts/Bloomberg. On top of this, the announcements made mention of her passion, which was stated to be potentially beneficial for revitalizing JC Penney. Ms. Soltau owns over 500,000 units of J. C. Penney Co stock worth over $1,699,839 and over the last 2 years she sold JCP stock worth over $639,799. The company was founded by James Cash Penney in April 1902 and is headquartered in Plano, TX. Penney’s new CEO Jill Soltau is receiving a $17.4 million package, which includes her base salary, signing bonus, and equity.
Ms. Soltau owns over 500,000 units of J. C. Penney Co stock worth over $1,699,839 and over the last 2 years she sold JCP stock worth over $639,799. Penney’s new CEO Jill Soltau is receiving a $17.4 million package, which includes her base salary, signing bonus, and equity. She started her career with Carson Pirie Scott in Chicago. Here is that check list again, with my comments: I can check off most of the criteria and am optimistic on the others. Here are 10 things that you may or may not have known about JC Penney CEO Jill Soltau: In total, Soltau can claim more than three decades of experience in the retail sector.
This copy is for your personal, non-commercial use only. All Rights Reserved, This is a BETA experience. Prior to working at fabric and crafts retailer Joann stores, Soltau was a chief merchandising officer at Shopko Stores. As of 26 August 2019 she still owns at least 9,443,552 units of J. C. Penney Co stock. Soltau comes to Penney at a crucial time — ahead of the all-important holiday season. (LOW), effective on July 2.
Soltau’s signing bonus of $6 million topped Ellison’s $4.14 million. The most active insiders traders include Square Capital Management, ..., Square Capital Management, ..., and Steven Roth. Who knew: Soltau … The Change in Control Plan, for example, provides cash severance benefits not exceeding 2.99 times the sum of base salary and target bonus should the executive’s employment be involuntarily terminated. EY & Citi On The Importance Of Resilience And Innovation, Impact 50: Investors Seeking Profit — And Pushing For Change. J.C. Penney's new CEO Jill Soltau starts naming her team and lists openings, Dallas County reports 1,517 coronavirus cases, 2 new deaths, Unlike 4 years ago, George W. Bush and his wife, Laura, will keep their White House votes to themselves, Family of SMU teen gunned down in downtown Dallas says crime was 'committed by complete strangers’, Trump glorifies drivers who swarmed Biden bus in Texas, as others see harassment and felony assault, Downtown Dallas businesses prepping for potential Election Day unrest, American Airlines cuts 100,000 flights in December schedule ‘to match low demand’, Why we might not know on Election Night if it’s Biden or Trump, Federal judge rejects bid to throw out 127,000 drive-through votes in Harris County, Leaders clash as El Paso death toll rises and coronavirus swamps hospitals, Joe McFarland, Penney's executive vice president, Fluor names a new CEO — its third top executive in two years, New 1,225-home development on tap for Fort Worth, Developer JPI kicks off 424-unit Frisco apartment project. Get the latest on openings, closings and trends of the D-FW retail scene. The most recent stock trade was executed by Leonard H Roberts on 22 October 2020, trading 13,958 units of JCP stock currently worth $2,652. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com. While the department store sector in the U.S. is under increasing pressure as shoppers' purchases shift online, Penney has struggled more than some of its peers, including Macy's and Nordstrom. Penney will close three stores this spring and it may announce additional closings among its fleet of 860 stores in late February. Which Managed Futures ETF is Right for You? Get this delivered to your inbox, and more info about our products and services.
The executive changes come as Fitch downgraded J.C. Penney's corporate credit rating on Monday from B to B- with a stable outlook. The retailer has a market cap of about $491.2 million. However, her base salary will be $1.4 million, though there are bound to be other incentives included in her compensation package as well. "Jill stood out from the start among an incredibly strong slate of candidates," Paul Brown, Penney board director and chairman of the CEO search committee, said in prepared remarks. When Ellison left, the retailer's board assured shareholders it would find someone with merchandise experience to fill the CEO role. In a sense, Soltau can be seen as a successor to one of JC Penney’s previous CEOs Ron Johnson, though hopefully, that won’t be true when it comes to their results. All Rights Reserved. Garrett by trade is a personal finance freelance writer and journalist. Select this result to view Jill S Soltau's phone number, address, and more. When Ellison ascended to the CEO post on Aug. 1, 2015, the base pay was raised to $1.4 million. “We have not shared any plans in regards to Jill adding the chairman title,“ she added. On average, J. C. Penney Co executives and independent directors trade stock every 111 days with the average trade being worth of $226,239. In the latest quarter ended Aug. 4, Penney lowered its outlook for the full year, as it continued to grapple with an overhang of too much inventory. J.C. Penney's new chief executive officer Jill Soltau has started putting her team together and on Monday announced a list of positions she wants to fill. Jill Soltau, the former CEO of Joann Stores, will become CEO of JC Penney, following the departure of Marvin Ellison earlier this year. What Makes the Interior of a Cadillac Different from All Other Cars? He will be responsible for all stores, supply chain and sourcing operations. 2 records for Jill Soltau. https://www.barrons.com/articles/jc-penney-ceo-compensation-1540480784. I am happy that the waiting time for a new CEO is over. Find Jill Soltau's phone number, address, and email on Spokeo, the leading online directory for contact information. Jill A. Soltau has been appointed as Chief Executive Officer, Director of the Company., effective October 15, 2018. Earlier in her career at Shopko, she was general merchandising officer for apparel and accessories. Joann Stores declined to disclose Soltau’s base salary and total compensation as CEO of that company. His last day was June 1. It capped a year of confidence in Ellison’s performance, as shares surged 25%, to $8.31, in calendar 2016, nearly doubling the S&P 500’s 13.4% rise. Horne will be responsible for developing and carrying out the company's "strategic and transformational initiatives," Penney said. (HD) veteran in operations, not in the head office, and, as our colleagues at The Wall Street Journal put it, “Some analysts questioned whether Mr. Ellison could make the leap from paint and plywood to apparel and cosmetics.”.
Jill Soltau attends the American Folk Art Museum Annual Gala at JW Marriott Essex House on November 16, 2017 in New York City.
Based on the announcements that were made at the time, it seems that Soltau was the final choice because she had a proven record of making retail businesses more profitable as well as providing other desired results. The retailer posted a sales decline of 3.5 percent during the November-December holiday shopping period.
© 2020 CNBC LLC. In my posts on August 3 and October 1, I enumerated certain criteria for a successful CEO of JC Penney. The company’s shares ended calendar 2017 at $3.16, down 62% for the year, compared with a 25% rise in the S&P 500. It's worth noting a coincidence about where she was almost 20 months ago to the day. Simply put, department stores have been declining for some time, not least because of how online retailers have been cutting into their customer bases and thus their revenue sources.
Got a confidential news tip? Soltau’s first day was Oct. 15. The next year didn’t turn the page on performance. Truett Horne joins Soltau's team from consultancy McKinsey & Co. to be chief transformation officer, a position Soltau has created. 10 Things You Didn’t Know about JC Penney CEO Jill Soltau, 10 of the Most Clever Stock Ticker Symbols of 2016, How Virtual Reality Game Entropia Universe Plans To Create 3 Million Jobs, How Online Ticket Brokers are Scamming Millions of Dollars Using Bots, 10 Potential Scenarios For Life at the New DreamWorks Animation Studios, Steven Rothberg Shares The Secret to CollegeRecruiter.com’s Business Longevity, Dissecting the Multi Billion Dollar Business of Televangelism, How Virtual Reality Game Entropia Universe Plans …, How Online Ticket Brokers are Scamming Millions …, Steven Rothberg Shares The Secret to CollegeRecruiter.com’s …, The History of and Story Behind the NYU Logo, 10 Things You Didn’t Know About Paul J.