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In a prepared statement, Soltau called Penney a “quintessential American brand with a strong and loyal customer base.”
“I couldn’t be prouder to lead such an iconic retailer,” she said. “I am highly passionate about the customer and I spent my entire career focused on the needs of a value-based consumer by researching, understanding and meeting her expectations for style, quality and inspiration. Every position I’ve held has prepared me for this role, and I couldn’t be more excited to meet the talented and hard-working J.C. Penney teams and get to work.”
Soltau is coming to Penney from another legacy brand. JoAnn, founded in Cleveland, has been around for almost 75 years and as other fabric stores went out of business, it remained relevant to customers. The company was taken private by private equity firm Leonard Green & Partners in 2011.
Soltau joined JoAnn in March 2015 as CEO from ShopKo where she was since 2007 as president and chief merchandising officer. Her prior retail experience includes merchandising, planning and private brands management at Kohl’s, Sears and Carson Pirie Scott. Soltau has been on the board of AutoZone since May.
She was recently vocal about the impact that tariffs on goods from China will have on JoAnn’s customers, many of which are craft makers who buy fabrics and supplies from JoAnn to make their finished goods.
In an interview in late July, Penney chairman Ron Tysoe said that the board wanted to include women among the candidates interviewed.
“Jill has the talent and passion to revitalize the business and position the company for growth,” Tysoe said in a statement Tuesday. About 70 percent of Penney’s customers are women. Penney’s rival, Kohl’s, has had a woman CEO since May when Michelle Gass followed longtime CEO Kevin Mansell.
Penney board member Paul Brown led the search committee and said there were strong candidates and the board was looking for someone with “rich apparel and merchandising experience.” Soltau’s “depth of experience in product development, marketing, e-commerce and store operations have been an important basis for the turnaround work she spearheaded at prior companies,” he said.
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