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JCPenney Eliminates Chief Merchant Position

Retailer will not reprise resigning exec’s role

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JCPenney (Plano, Texas) has announced the resignation of its Chief Merchant and EVP John Tighe, a role the executive has occupied since 2015. The company also stated that it will not fill Tighe’s role from this point on, as it plans to restructure its organization and streamline decision-making.

The choice to eliminate the chief merchant role, the company says, was made due to its poorly performing apparel department, namely women’s, which is the retailer’s largest. Its stock fell 18 cents, or 7 percent, closing at $2.37 per share on Friday, reports The Dallas Morning News.

Tighe is reportedly leaving the company to pursue other career opportunities. He has been employed by JCPenney since 2002, where he has had experience in nearly every one of the retailer’s departments.

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