JCPenney on Thursday named Ken Hannah as its new CFO in the latest of a series of senior level personnel moves designed to aid in the company’s transformation.
Hannah, 43, previously served as president of MEMC Electronic Materials where he was responsible for improving process discipline, simplifying the organization and reducing cost to drive growth in the company's solar business. Before the six years he spent in his current position, Hannah was the company’s CFO. Prior to that he served in positions of increasing responsibility at The Home Depot, including as SVP finance. Prior to that, Hannah held the positions of VP corporate audit staff and VP financial planning and analysis at The Boeing Company. He also worked in a variety of finance positions with General Electric Company and at McDonnell Douglas Corporation.
"Ken brings a broad knowledge of finance, controls and operations to the CFO role,” said JCPenney CEO Ron Johnson. “In addition, his experience with top companies known for financial and operational excellence will be instrumental in helping JCPenney as we transition to become America's favorite store.”
Hannah added that he had followed the outstanding changes that have taken place at JCPenney thus far and was excited to now be part of this remarkable revolution in retail.