Eric Hunter, a senior Vice President of marketing at J.C. Penney Company, Inc. (NYSE:JCP) was dismissed from the company earlier this month. Sources reveal that consultant Sergio Zyman, hired by Johnson, have reduced his involvement in the company affairs, say a report by Sapna Maheshwari from BuzzFeed.
Eric hunter stepped down from the post in the previous month and at that time new CEO Mike Ullman proposed Jan Hodges to be the new Senior President of sales promotion. The role and responsibility of Hodges was more like that of Hunter in J.C. Penney Company, Inc. (NYSE:JCP).
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Hunter took his position in J.C. Penney Company, Inc. (NYSE:JCP) in the February last year. He left Kellwood where he was serving as chief marketing officer.
Zyman Still under contract
According to the sources, the former The Coca-Cola Company (NYSE:KO) marketer Zyman who was brought in for consultation in J.C. Penny, is not much in action nowadays after the reported personality clashes with Ullman. Zyman is at present legally bound by the contract of J.C. Penny, but he is no longer very much involved in consultation.
A representative from J.C. Penney Company, Inc. (NYSE:JCP) said that Zyman has hired an executive and colleague, Jeff Herbert to work in marketing. Herbert has taken much responsibility in J.C. Penny and has been working on behalf of Zyman. According to the representative, the impression which has been drawn that after coming in of Herbert, Zyman has left J.C. Penny is totally wrong.
Zyman could not be reached for any comment on the issue.
Johnson’s failed strategy
After Hunter, J.C. Penny re-appointed Ullman as CEO in the previous month following the planned changes which failed and resulted in a $4.3 billion or 25 percent drop in sales.
Johnson wanted to follow the similar strategy of everyday low-price, which is being followed at Wal-Mart and on the basis of which the Wal-Mart is known to be “America’s favourite store”. Johnson stopped weekly circulars and started monthly catalogs instead. He also brought in Ellen Degeneres to be the spokesperson and also presented various high cost and emotional TV ads, which were rolled over during Oscars.
Ullman has taken back the reign of J.C. Penney Company, Inc. (NYSE:JCP) in his hands, and it is expected that now the effort required for brand-building and marketing will be less.
Other recent departures From J.C. Penney
In March 2013, marketing executive Lisa DeStefano-Orebaugh left J.C. Penney Company, Inc. (NYSE:JCP) to join as marketing Vice President for The Home Depot. Michael Francis and one other executive have also left in October and June last year.