After only eight months, Michael Francis, one of the key architects of J.C. Penney's high profile turnaround efforts, is leaving the company, effective immediately. In October, the former Target exec became J.C. Penney's president, responsible for merchandising, marketing, planning and allocation, and product development and sourcing. J.C. Penney announced the parting in a three-sentence statement, noting CEO Ron Johnson will assume direct responsibility and oversight of the company's marketing and merchandising functions. Johnson thanked Francis for his "hard work" and wished him well in his "future endeavors."
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Despite Shaky Start, J.C. Penney Stands Firm on Reinvention Plan
May 21, 2012
From Advertising Age
J.C. Penney lost $163 million in the first quarter. Sales skidded 20 percent; traffic slowed 10 percent; conversion and average customer spending both fell 5 percent. Grim results indeed. But don't expect CEO Ron Johnson, President Michael Francis and the rest of the crew to throw in the towel on their retail revolution plan just yet.
Target Taps Former Gap Exec as its New Chief Marketing Officer
April 3, 2012
From Mass Market Retailers
Target Corp. has named a former Gap executive to replace the departed Michael Francis as chief marketing officer. Jeffrey Jones II, who most recently was a partner and president of McKinney, an advertising agency based in Durham, N.C., has taken on the role of Target’s executive vice president and chief marketing officer, effective immediately. "We're very excited to welcome Jeff to the Target team," said chairman, president and chief executive officer Gregg Steinhafel.
Marketing Manifesto
Managing the New Customer Relationship: Strategies to Engage the Social Customer and Build Lasting Value
