JCPenney CMO retires after eight years at the helm
Mike Boylson, CMO of JCPenney, retired this month after more than eight years as the retailer's marketing leader and 33 years at the company. JCPenney has yet to name a replacement.
Bill Gentner, SVP of marketing planning and promotions, will serve as interim CMO until a replacement is found, said Rebecca Winter, director of corporate affairs at JCPenney.
The Plano, Texas-based company said last month that former Apple SVP of retail Ron Johnson will take over its CEO position in November and that former CEO Myron Ullman will serve as executive chairman.
The company also unveiled a new brand logo in its spring fashion marketing campaign, which included direct mail, TV, radio and social media. The company, which worked with AOR Saatchi & Saatchi on the initiative, said it revamped the logo to bring younger and lapsed consumers into its stores.
In January, JCPenney said it will shutter five department stores and all 19 legacy catalog outlets in the next two years. Last September, it discontinued its traditional catalog business in favor of “look books,” which refer consumers to the company's e-commerce site.
JCPenney's 2010 fiscal year net sales increased 1.2% compared with fiscal 2009, the company said in February. Internet sales increased 4.4% to $1.5 billion in fiscal 2010, compared with the prior fiscal year.
JCPenney's marketing budget is approximately $1.2 billion according to AdAge.com, which first reported Boylson's retirement.
