J. C. Penney Appoints Another Interim CFO

(RTTNews) - J. C. Penney Co.'s (JCP) appointed its second interim chief financial officer Monday, after its chief financial officer abruptly resigned last month.

Michael Fung will join J. C. Penney on Tuesday. He assumes the interim role from Jerry Murray, who was named interim CFO when Jeffrey Davis resigned in September. Murray will return to his previous position as senior vice president of finance.

J. C. Penney said in a regulatory filing, "Michael Fung is temporarily joining the Company as interim chief financial officer effective Oct. 30, succeeding Jerry Murray who will resume his responsibilities as senior vice president of finance."

Fung has over 40 years of finance experience, including corporate finance, strategy, financial planning and analysis, across multiple consumer and retail organizations. He recently served as interim chief financial officer for Neiman Marcus Group and 99 Cents Only Stores following his retirement from Walmart Stores.