After only nine months, Shawn Gensch has resigned from his post as JCPenney EVP and chief customer officer.
Gensch started at the Plano, Texas-based firm in June, reporting directly to CEO Jill Soltau. Gensch had recently held the same role at Sprouts Farmers Market and had previously worked for Target Corp. for a decade. As JCP’s chief customer officer, he led all aspects of the company’s marketing strategies and initiatives.
“Shawn Gensch resigned from his position as executive vice president and chief customer officer at JCPenney,” a JCPenney spokesperson told FN. “The company thanks Shawn for his contributions in developing the Plan for Renewal and building a strong team of marketing leaders.”
Upon Gensch’s hiring last spring, Soltau said she expected him to be “instrumental in developing a compelling brand identity that builds meaningful connections with new shoppers, and strengthens relationships with our most loyal customers.”
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Gensch’s departure comes amid ongoing struggles for JCPenney, which made the list of S&P Global Market Intelligence’s “most vulnerable” publicly traded retailers earlier this month. As parts of its turnaround plan, the chain hired debt restructuring advisers in July and announced a ThredUp partnership in August, with 30 of its stores offering a selection of the consignment company’s secondhand products. Last month, JCP also announced plans to close six stores.
The company hasn’t posted a sales gain since the 2017 holiday season but appeared to be showing modest signs of hope in its third-quarter earnings report, posting narrower-than-expected losses and upgrading its full-year outlook. The retailer will report its Q4 earnings on Thursday; analysts expect adjusted losses per share of $0.06 cents, with revenues of $3.44 billion. JCP shares are currently trading at less than $1, putting the firm at risk of being delisted from the New York Stock Exchange.
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