Ken Hannah Named J.C. Penney CFO

Former MEMC, Home Depot executive reports to Michael Kramer.

Ron Johnson has his new finance chief.

The chief executive officer and head reinventor of J.C. Penney Co. Inc. named Ken Hannah chief financial officer, effective Monday. Hanna, 43, was most recently president of solar energy at MEMC Electronic Materials and before that he was senior vice president of finance at The Home Depot.

He reports to chief operating officer Michael Kramer.

“Ken brings a broad knowledge of finance, controls and operations to the cfo role,” Johnson said. “In addition, his experience with top companies known for financial and operational excellence will be instrumental in helping J.C. Penney as we transition to become America’s favorite store.”

Penney’s former cfo, Michael Dastugue, left the chain last month.