10 Things You Didn’t Know about JC Penney CEO Jill Soltau

Jill Soltau is the current CEO of JC Penney. She has been so since October of 2018, but before that, she was the CEO of Jo-Ann Fabric and Crafts Stores. As such, Soltau hasn’t spend a lot of time at the head of JC Penney, so it will be interesting to see what happens as she continues to make her presence felt. Here are 10 things that you may or may not have known about JC Penney CEO Jill Soltau:

1. Retail Veteran

In total, Soltau can claim more than three decades of experience in the retail sector. As such, there can be no credible challenge to her claim that she is a true retail veteran.

2. Specializes in the Customer Side of Things

Over the course of her career, Soltau has performed a wide range of tasks in a wide range of roles. However, it is interesting to note that a lot of her roles have seen her involved in the customer-oriented side of things for retail businesses. Examples range from customer experience to marketing and merchandising.

3. Has a Lot of Senior Management Experience

Unsurprisingly, Soltau has a lot of senior management experience as well. After all, CEO wasn’t her first executive position. Interested individuals can find a full list of the positions that she has held elsewhere, but some examples of the titles range from Director to Chief Merchandising Officer and Executive Vice President.

4. Chosen for Her Record

Soltau was JC Penney’s choice following a search for their new CEO, which makes sense because the retailer is not on the firmest footing at the moment, thus making their choice that much more important. Based on the announcements that were made at the time, it seems that Soltau was the final choice because she had a proven record of making retail businesses more profitable as well as providing other desired results. On top of this, the announcements made mention of her passion, which was stated to be potentially beneficial for revitalizing JC Penney.

5. Said to Inspire Other People

Some of the articles that covered the announcement made mention of Soltau’s ability to inspire the people around her as well, which is always a good characteristic for CEOs and other members of senior management to have. After all, motivated people are also well-known to be much, much harder-working people.

6. Got a Cash Bonus of $6 Million

For joining up with JC Penney, Soltau managed to get a one-time cash bonus of $6 million. However, her base salary will be $1.4 million, though there are bound to be other incentives included in her compensation package as well.

7. Stated that She Planned to Start By Learning

When interviewed after starting as the new CEO of JC Penney, Soltau stated her plan to learn more about the retailer before proceeding to other matters. This makes sense because while she has plenty of the right expertise and experience, that doesn’t mean that she can just start making the right decisions right away, thus the need for an initial period of familiarization.

8. Has Mentioned Need for Department Stores to Evolve

Speaking of which, Soltau has also mentioned her plan to focus on what the customers want, which is a part of her belief that department stores need to evolve. Simply put, department stores have been declining for some time, not least because of how online retailers have been cutting into their customer bases and thus their revenue sources. As a result, JC Penney is far from being the only retailer that has come under pressure, as shown by the other retailers that have started moving towards what is being called experiential shopping.

9. Can Be Seen As a Successor to Ron Johnson

In a sense, Soltau can be seen as a successor to one of JC Penney’s previous CEOs Ron Johnson, though hopefully, that won’t be true when it comes to their results. This is because both individuals were put in charge of JC Penney to make it capable of thriving in the modern business environment. However, Johnson went way too far with his changes, which was wholly unsurprising when he seems to have outright disdained the retailer’s traditional customer base with predictable results for its sales.

10. Doesn’t Like Tariffs

When she was still in her previous position, Soltau spoke out against Trump’s tariffs on Chinese goods, which makes sense because a lot of their goods would have been impacted by price hikes. Suffice to say that increasing prices tends to make the positions of retailers shakier rather than stronger, meaning that she was expected to carry these views over to JC Penney, which has voiced similar sentiments in the past.


Add Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

David Einhorn
20 Things You Didn’t Know About David Einhorn
Scott Heiferman
20 Things You Didn’t Know About Scott Heiferman
Corey Schiller
20 Things You Didn’t Know About Corey Schiller
Oscar Munoz
20 Things You Didn’t Know About Oscar Munoz
Do You Really Need to Save That Much for an Emergency Fund?
10 Recession Proof Dividend Stocks You can Lean On
York Water Stock
20 Reasons You Might Consider York Water Stock
10 Creative Ways to Boost Your Social Security Benefits
Blockchain
Five Companies Leading the Way in Blockchain Technology
airplane technologies
20 Technologies That Will Rule the World in 2020
Chatbots
The Growing Use of Chatbots in Customer Service
Data Breach
Four Reputable Companies That Faced Massive Data Breaches
Kensington
The 20 Best Seafood Restaurants in NYC
Seattle Center
The 20 Best Hotels in Seattle 2019
The 10 Best Golf Courses in all of Ireland
The 20 Best Seafood Restaurants in Boston
2016 Mercedes-Benz GLC Class
The 10 Best Mercedes GLC Models of All-Time
Best Cadillac Escalade Models
The 10 Best Cadillac Escalade Models of All-Time
Best Ford Ranger Models
The 10 Best Ford Ranger Models of All-Time
Best Ford Explorer Models
The 10 Best Ford Explorer Models of All-Time
The 20 Best Skagen Watches of All-Time
Oris Martini Racing Limited Edition
The 20 Best Oris Watches of All Time
Timex Men's Weekender Tan Leather Strap AnalogWatch
The 20 Best Timex Watches of All-Time
Orient Mako XL
The 20 Best Orient Watches of All-Time