J. C. Penney Company, Inc. has announced that Colin Dougherty, a senior executive with more than 25 years of finance experience, will join the company on September 23 as Senior Vice President, finance, reporting to Bill Wafford, Chief Financial Officer. The company said, Dougherty will be responsible for leading finance strategy, operations, and financial planning and analysis.
“I look forward to welcoming Colin to JCPenney to support our focus on returning the company to sustainable and profitable growth. His significant retail and transformation expertise make him an excellent addition to our team as we continue to take positive and proactive measures to further strengthen our capital structure and balance sheet while re-establishing the fundamentals of retail operations,” said Wafford in a statement.
The company added that Dougherty brings 18 years of retail finance experience across multiple disciplines including FP&A, merchandise finance, store finance, capital planning, procurement and transformation. He joins JCPenney from Storch Advisors, a New York-based business strategy consulting firm, where he advised clients on strategy, growth, mergers & acquisitions, e-commerce and innovation. Prior to Storch Advisors, Dougherty served as senior vice president, financial planning & analysis, for Hudson’s Bay Company.
Dougherty spent the majority of his retail finance career at Target Corporation, joining the company in 1993 as a financial analyst. During his time at Target, Dougherty assumed increasing levels of responsibility providing financial leadership to divisions including stores, merchandise, financial services, capital and technology. Prior to Target, Dougherty was a product manager and assistant vice president at U.S. Bank and started his finance career at The Travelers.