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JCPenney Picks Walmart and Starbucks Vet as New CFO

JCPenney has appointed Stephanie Plaines as CFO, effective immediately. Plaines will lead all financial activities across the retailer, with the goal of driving best-in-class execution across functions including financial strategy, real estate, capital deployment, credit services, sourcing and procurement, treasury and accounting.

Plaines brings decades of experience working with data to improve business performance and profitability. She most recently served as CFO at commercial real estate company Jones Lang LaSalle. She also brings experience as a former senior executive at companies including Starbucks, Walmart and Ahold Delhaize.

“JCPenney is investing for the long-term while executing our customer-focused strategy to enhance shopping experiences and build brand loyalty,” said Marc Rosen, CEO at JCPenney in a statement. “Stephanie brings more than 20 years of high-performance strategic and financial leadership with best-in-class global retailers. Her deep strengths in data-forward financial management and track record of value creation will make her an invaluable advisor throughout the business as we develop new digital and technology capabilities to advance our transformation agenda.”

Plaines is the department store retailer’s third C-level hire this year. In January 2022, the company named Sharmeelee Bala as CIO and Katie Mullen as Chief Digital and Transformation Officer to help fuel its omnichannel growth.

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