JC Penney Company, Inc. has announced in a press release that they are promoting John Tighe, a senior vice president and senior general manager of the company's men's division, to executive vice president and chief merchant effective October 1.
Tighe will be replacing Elizabeth "Liz" Sweney, who will be retiring once the fiscal year ends after 16 years of service to JC Penney.
Melvin Ellison, the CEO of JC Penney, said in the press release that Tighe is an "extraordinary merchant."
He said that Tighe "has curated some of the most high-performing brand portfolios in retail, including leading the growth of jcp.com."
He also adds in the press release that the "broad experience" that Tighe has given him a "keen understanding of the retail business, which will be essential" to the company's success.
He said that the company will be seizing "greater opportunities in omnichannel and increased private brand penetration while positioning JC Penney as the best shopping destination for national brands and in-store attractions."
The Wall Street Journal adds that a person familiar with the matter told them that Ellison, who took over the company on August 1, has been looking for a new merchant.
The person said that Ellison wants someone who has extensive merchandising experience as he lacks it himself.
Ellison also thanked Sweney, who was chief merchant since 2012, in the press release, saying that she made it possible for the company to progress.
"The progress that our Company has made would not have been possible without the leadership, dedication and expertise of Liz Sweney," he said. "We are thankful for her many contributions and are grateful that she will play a critical role guiding this transition through the balance of the year."
Sweney will stay on an advisory role through the end of the fiscal year, according to the press release.
The Wall Street Journal adds that JC Penney is the latest retailer to change chief merchants as technology has changed the industry.
The chief merchant, which is tasked to pick the right items to fill the store, is usually viewed as the number two executive in the chain of command.
