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Texas  + Retail  |  January 4, 2021
Paul Bubny
By: Paul Bubny

JCPenney’s New Owners Search for New CEO

JCPenney’s new ownership group—Simon Property Group and Brookfield Asset Management, along with strategic partner Authentic Brands Group—has launched a search for a CEO to replace Jill Soltau, who resigned effective Dec. 31.

Simon CIO Stanley Shashoua has been named interim CEO of the Plano-based retailer, which the ownership group acquired out of bankruptcy in December.

Soltau had served as JCPenney’s CEO since October 2018, when she was brought in to turn around its fortunes. In a release, the ownership group said its search for her replacement “will seek to identify a leader that is focused on modern retail, the consumer experience, and the goal of creating a sustainable and enduring JCPenney.”

Along with naming Shashoua as interim chief executive, the ownership group has also established a temporary office of the CEO to include key members of JCPenney’s current leadership team.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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