US department store retailer JCPenney has named Jeffrey Davis as its CFO following the departure of Edward Record.

Record stepped down from the role on 11 July to "pursue other interests" and was temporarily replaced by Andrew Drexler who had been serving as interim CFO while the company searched for Record's replacement.

JCPenney CFO Record to step down

Davis will be responsible for all financial operations of the company, including the oversight of finance teams at the JCPenney home office and shared services centre in Salt Lake City.  

He most recently served as chief financial officer at Darden Restaurants, overseeing finance and accounting, corporate reporting, tax, internal audit, treasury and investor relations. He has also held roles with Walmart US, McKesson Corp, Lakeland Tours and The Hillman Co.

"Jeff's expertise will also be a tremendous asset to JCPenney as we continue to differentiate our business in a competitive retail climate and further strengthen our balance sheet moving forward," says Marvin Ellison, CEO.

"JCPenney is a mainstay in American retailing, and I'm proud to have the opportunity to sustain its rich legacy alongside a group of dedicated associates committed to differentiating the company from its traditional competitors," adds Davis.