JCPenney announced on Wednesday that its new ownership group, consisting of Simon Property Group and Brookfield Asset Management, along with strategic partner Authentic Brands Group, have launched a search for a Chief Executive Officer (CEO) to replace Jill Soltau, who will be exiting the company effective December 31, 2020.
”With a successful track record of turning around retailers and brands and restoring them to profitability, JCPenney’s new ownership group will establish a temporary office of the CEO to include key members of JCPenney’s current leadership team,” the company said in a statement.
JCPenney said Stanley Shashoua, Simon Property Group’s Chief Investment Officer, will be appointed interim CEO effective January 1, 2021.
READ ALSO : JCPenney gets court approval for asset purchase agreement with Brookfield, Simon
 to replace Jill Soltau, who will be exiting the company effective December 31, 2020.){kind=link}