JC Penney Looks to the Present,,,and the Future

Implications: JC Penney (JCP), currently struggling, along with so many of its competitors, has been working hard to differentiate itself as a dominant player. The recent appointment of Ken Hicks to the JCP Board of Directors is a significant move to reward and retain an unusually talented retail executive. Hicks will address the short term jeopardies and lead the company forward into the future. He rounds out a diverse, and talented, management team. Hicks complements the Board's hard driving, sometimes prickly, Mike Ullman, and super-energized and creative Maxine Clark. This is a terrific Board.

Analysis: Hicks is a very smart retail leader with a unique background. While he didn't go through the ranks as a trainee, assistant buyer, buyer, DMM, GMM, etc. He paid his dues At West Point, McKinsey, May Department Stores as SVP of strategic Planning, traveling night and day with CEO David Farrell and May Merchandising President, Ken Kolker.

Hicks took over the struggling home business at May and taught the merchants and stores how to initiate winning disciplines. His style is low key, ususally patient, and always convincingly analytical. He knows almost everything and is interested in learning the rest.

Earning the loyalty of those who report to him is a high priority for Hicks. This man will lead Penney's into the future and his appointment to the Board is a sagacious move.