US fashion retailer Stage Stores has promoted former JC Penney and Kohl's executive Thorsten Weber to the position of executive vice president and chief merchandising officer. 

Weber, who began his career with May Department Stores before joining JC Penney, will succeed Steve Lawrence who has announced his intention to leave the company to pursue other interests. 

Weber joined JC Penney's buying division in 2013 where he assumed positions of increasing responsibility up to and including division vice president before being promoted to senior vice president of planning and allocation. Before joining Stage Stores in 2013, Weber worked at Kohl's as senior vice president of planning and allocation.

"Thorsten is an exceptional leader with a broad background in merchandising, planning and allocation with unique experiences to assume his new position," says Stage Stores president and CEO Michael Glazer. "Our company succession planning has properly prepared us for this move and I have great confidence in Thorsten's ability to lead our merchandising, planning and allocation teams while advancing our long term strategic plans."

The retailer most recently posted a 97.5% fall in second-quarter net profit to $40,000 from $1.6m, as total sales slipped 1.2% to $338.4m and comparable sales dropped 9.8%.