Jill Soltau

Last updated
Jill Soltau
Born1967 (1967)
Viroqua, Wisconsin
NationalityAmerican
Education University of Wisconsin–Stout
Known forFormer CEO of JCPenney

Jill Ann Soltau (born 1967) is an American businesswoman who was the CEO of JCPenney from October 2018 through December 2020. [1] She was previously CEO of Jo-Ann Fabrics. [2]

Contents

Education

A native of Viroqua, Wisconsin, [3] Soltau is a 1989 graduate of University of Wisconsin–Stout’s retail merchandising and management undergraduate program. [4]

Career

Jill Soltau started her career at Carson Pirie Scott before moving into senior level positions at Sears and Kohl's. In 2007, she joined Shopko where she served in various roles before becoming president of the company in 2013. [5] [6] [7]

Soltau became CEO and president of Jo-Ann Fabrics on March 2, 2015. [8] As CEO, she opposed President Trump's tariffs on Chinese goods and testified in front of the administration in opposition due to American manufacturers not being able to meet Jo-Ann's quality or volume needs. [9]

On October 15, 2018, Soltau began as CEO [10] and a member of the board of JCPenney following Marvin Ellison's departure and the decline of the struggling company. [8] [11] She was the 25th woman leading a Fortune 500 company at the time, Penney's fifth chief executive in the past decade and first woman executive. [12] [11] Soltau was faced with an uphill battle to revitalize a brand that had lost customer confidence. Soltau moved to close stores, exit the appliance market, remodel fitting rooms and introduce workshops for customers. [13] Under her leadership in 2019, the company was scheduled to close dozens of stores after shifting its focus to home goods and women's clothes. Some criticized the slow approach pointing out that the slow approach might have been as dangerous as the previous CEO's quick approach [14] She had also brought in new talent and has cleaned out inventory. [15] On December 30, 2020, it was announced that Soltau would step down as CEO of JCPenney, effective December 31, 2020. [16]

Controversy

On May 14, 2020, after layoffs and furloughs of more than 80,000 employees and missing two payments on J.C. Penney debt, it was reported that Jill Soltau would receive a $4.5 million bonus. [17] [18]

Related Research Articles

<span class="mw-page-title-main">JCPenney</span> American department store chain

Penney OpCo LLC, doing business as JCPenney and often abbreviated JCP, is an American department store chain that operates 659 stores across 49 U.S. states and Puerto Rico. Departments inside JCPenney stores include Men's, Women's, Boys', Girls', Baby, Bedding, Home, Fine Jewelry, Shoes, Lingerie, JCPenney Salon, JCPenney Beauty, as well as leased departments such as Seattle's Best Coffee, US Vision optical centers, and Lifetouch portrait studios.

<span class="mw-page-title-main">Eckerd Corporation</span> Defunct American pharmacy

Eckerd Corporation was an American pharmacy retail chain that was headquartered in Largo, Florida, and toward the end of its life, in Warwick, Rhode Island. At its peak, Eckerd was the second-largest pharmacy chain in the United States, with approximately 2,802 stores in 23 states as far west as Arizona.

<span class="mw-page-title-main">Martha Stewart Living Omnimedia</span> American media and merchandising company

Martha Stewart Living Omnimedia Inc. (MSLO) is an American diversified media and merchandising company founded by Martha Stewart in 1997 and owned by Marquee Brands LLC since April 2019. It is organized into four business segments: publishing, Internet, broadcasting media platforms, and merchandising product lines. MSLO's business holdings include a variety of print publications, television and radio programming, and e-commerce websites.

<span class="mw-page-title-main">District 208</span> Shopping mall in Idaho, United States

District 208, formerly Karcher Mall, is a shopping center located in Nampa, Idaho, United States. It originally opened as an enclosed shopping mall in August 1965 with Buttrey Food & Drug, Tempo, and Sprouse-Reitz as anchor stores. It was the largest shopping mall in the Treasure Valley until the opening of Boise Towne Square in Boise in October 1988. The shopping center is anchored by Big 5 Sporting Goods, Jo-Ann Fabrics and Crafts, Mor Furniture, and Ross.

<span class="mw-page-title-main">Ron Johnson (businessman)</span> American businessman

Ron Johnson is the CEO and founder of Enjoy Technology. Previously, he was CEO of JCPenney, where he led a failed effort to fundamentally reshape the retailer; senior vice president of retail operations at Apple Inc., where he developed the concept of the Apple Retail Stores and the Genius Bar; and the vice president of merchandising for Target Corporation, where he was credited for making the store appeal to a younger and trendier crowd. Johnson is on the Board of Directors of Globality Inc, a start-up based in Menlo Park, California.

Washington Mall was an enclosed shopping mall located in South Strabane Township, Washington County, Pennsylvania, just outside the city of Washington, formerly managed by J J Gumberg Co. and now by Oxford Development Company. It is owned by Falconi, a local developer which also owns a number of properties throughout Washington County.

<span class="mw-page-title-main">Jo-Ann Stores</span> US arts and crafts retail chain

Jo-Ann Stores, LLC, more commonly known as Jo-Ann, is an American fabric and crafts retail company based in Hudson, Ohio. It operates the retail chains JOANN Fabrics and Crafts and Jo-Ann Etc.

Regency Mall is an enclosed super-regional shopping mall in Racine, Wisconsin. The mall has a gross leasable area of 872,409 square feet (81,049.4 m2). It features 110 retail spaces, and six anchor stores, Dunham's Sports, Bob's Discount Furniture, Planet Fitness, Ross Dress For Less, Party City, and Joann. There are 2 vacant anchor stores that were once Boston Store and Burlington. The fourth original anchor store structure, formerly JCPenney, has been subdivided into three in-line stores. Located at the junction of state highways 31 and 11, the building is surrounded by several freestanding stores and restaurants, including a Target store.

Frontier Mall is an enclosed shopping mall located along Dell Range Blvd in Cheyenne, Wyoming. The single-level, 519,471-square-foot (48,260.4 m2) mall opened March 18, 1981. Managed by CBL & Associates Properties of Chattanooga, Tennessee, it is Wyoming's second largest mall, boasting 67 shops, including six anchor stores: Dillard's, JCPenney, JAX Outdoor Gear, Planet Fitness, Appliance Factory Mattress Kingdom, and Jo-Ann.

<span class="mw-page-title-main">White Mountain Mall</span> Shopping mall in Wyoming, United States

White Mountain Mall is a shopping mall located in Rock Springs, Wyoming owned and managed by Brookfield Properties. It is one of only three enclosed malls in the entire state of Wyoming. The mall, which opened in 1978, is located near Interstate 80/U.S. Route 30/191, and features over 40 stores. The anchor stores are Star Stadium 11 + ARQ, Jo-Ann Fabrics, Murdoch's Ranch & Home Supply, Ross Dress for Less, Shoe Dept. Encore, TJ Maxx, Petco, and Dunham's Sports.

Peru Mall is a shopping mall located in Peru, Illinois, United States. The mall's anchor stores are Jo-Ann Fabrics, AMC Theatres, and Marshalls. There are 3 vacant anchor stores that were once Bergner's, JCPenney, and Sears. Other retailers include;Claire's, Buckle, and a few more. Directly outside the shopping center are Applebee's and Subway restaurants. The 465,000 square feet (43,200 m2) mall also serves as the major commercial center in the city of Peru.

<span class="mw-page-title-main">Courtland Center</span> Shopping mall in Michigan, United States

Courtland Center, formerly Eastland Mall, is an enclosed shopping mall in Burton, Michigan, a suburb of Flint, Michigan, United States. It opened in 1968, two years before the larger Genesee Valley Center on the other side of the Flint metropolitan area. Courtland Center includes four anchor stores: JCPenney, Dunham's Sports, Staples, and Jo-Ann Etc., plus an exhibit space operated by Sloan Museum.

South Shore Mall is a super-regional shopping mall in Bay Shore in Suffolk County, Long Island, New York, in the United States. The mall is owned by the Namdar Realty Group, and has 1,165,000 square feet (108,232 m2) of gross leasable area.

<span class="mw-page-title-main">Wade Miquelon</span> American business executive (born 1964)

Wade Miquelon is an American business executive and former CEO of Jo-Ann Stores. He was previously an executive at Procter & Gamble and Walgreens.

The Orchards Mall is an enclosed shopping mall in Benton Charter Township, Michigan, U.S., just outside Benton Harbor. Opened in 1979, the mall originally featured Sears and JCPenney as its anchor stores, with Elder-Beerman being added in the 1990s. All three anchors have vacated in the 2010s, as has much of the mall's interior, with only two businesses remaining. The mall is owned by Durga LLC.

Myron Edward "Mike" Ullman III was an American businessman. During his career, he led Macy's and was the chairman and CEO of J. C. Penney. Ullman served as Penney's CEO twice: first from December 2004 through October 2011, when he was succeeded by Ron Johnson, and then again after Johnson's departure, from April 2013 through July 2015 when Ullman stepped down.

Village Mall is a shopping mall in Danville, Illinois in the United States. Opened in 1975, the mall's anchor stores are County Market, Pet Supplies Plus, Dunham's Sports, Ross Dress for Less, Citi Trends, Jo-Ann Fabrics, Burlington, Shoe Sensation, Slumberland Furniture, and AMC Theatres. There are 2 vacant anchor store that were once Carson's and Sears. It is managed by T Danville, a division of Tabani Group.

Sycamore Partners is an American private equity firm based in New York specializing in retail and consumer investments. The firm has approximately $10 billion in aggregate committed capital.

Cross County Mall is a shopping mall in Mattoon, Illinois, U.S. It was opened in 1971 with JCPenney, G. C. Murphy, IGA, Arlan's, and Myers Brothers, with Sears joining in 1972. Following the closure of Arlan's in 1973, the space became Kmart one year later. G. C. Murphy became Meis, Elder-Beerman, and then Carson's, while Kmart moved out of the mall in 1993 and became a larger Sears store. The Sears closed in 2014 and became a Rural King in 2019. Following the closures of Carson's and JCPenney in 2018 and 2020 respectively, the mall's anchors are Rural King, Marshalls, Jo-Ann Fabrics, and Dunham's Sports. Rural King also owns the mall.

<span class="mw-page-title-main">Oakwood Mall (Enid, Oklahoma)</span> Shopping mall in Oklahoma, U.S.

Oakwood Mall is a shopping mall in Enid, Oklahoma, United States. There are about 53,000 people that live within five miles (8.0 km) and 178,000 within 50 miles (80 km) of the mall. The property sits at just over 62 acres.

References

  1. ↑ Goldman, David (2020-12-30). "JCPenney's CEO is out after two years of failure". CNN. Retrieved 2020-12-31.
  2. ↑ "JCPenney taps Jill Soltau for top job ending months-long search for CEO". Financial Times. October 2, 2018.
  3. ↑ "New CEO of J.C. Penney is UW-Stout graduate". Leader-Telegram. October 4, 2018. Retrieved 25 April 2019.
  4. ↑ Poling, Jerry (3 October 2018). "New CEO of J.C. Penney is retail management alumna" . Retrieved 25 April 2019.
  5. ↑ "Who is Jill Soltau? Profiling the first female CEO of JCPenney". Compelo - latest news, features and insight on influencers and innovators within business. 2018-10-04. Retrieved 2019-04-25.
  6. ↑ "JCPenney Welcomes Jill Soltau as Chief Executive Officer". J. C. Penney Company, Inc. Retrieved 2019-04-25.
  7. ↑ "Leadership". J. C. Penney Company, Inc. Retrieved 2019-04-25.
  8. 1 2 Loeb, Walter (October 3, 2018). "Jill Soltau Is A Winning Choice As The New CEO Of JC Penney" . Retrieved 25 April 2019.
  9. ↑ "Yarn and Fabric Stay on Trump's Tariff List Despite Crafters' Pleas". 2019-04-25. Retrieved 2019-04-25.
  10. ↑ Armental, Maria (October 2, 2018). "J.C. Penney Taps Former Joann Stores CEO as Next Leader". Wall Street Journal. Retrieved 25 April 2019.
  11. 1 2 "J.C. Penney Names Jill Soltau of Joann Stores as Chief Executive". 2019-04-25. Retrieved 2019-04-25.
  12. ↑ Meyersohn, Nathaniel (October 2, 2018). "JCPenney names Jill Soltau as its new CEO" . Retrieved 25 April 2019.
  13. ↑ "Penney's First Female CEO Says Her Turnaround Will be the One to Work". Bloomberg.com. 17 September 2019. Retrieved 2020-02-26.
  14. ↑ "How JCPenney's New CEO Made $16.7 Million After Just 3 Months on the Job". Observer. 2019-04-02. Retrieved 2019-04-25.
  15. ↑ Shoulberg, Warren. "Jill Soltau's Slow Approach To Save JC Penney May Be As Dangerous As Ron Johnson's Quick Attempt". Forbes. Retrieved 2020-02-26.
  16. ↑ "J.C. Penney sale to landlords Simon and Brookfield is completed". Dallas News. 2020-12-07. Retrieved 2020-12-30.
  17. ↑ Shoulberg, Warren. "Soltau And Team Taking $10 Million In Bonuses Out Of Sinking Penney". Forbes. Retrieved 2020-05-15.
  18. ↑ Brooks, Khristopher (14 May 2020). "J.C. Penney offers top execs million-dollar bonuses as it faces possible bankruptcy". CBSNEWS.com. Retrieved 2020-05-15.


This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.