J.C. Penney store

J.C. Penney Co. Inc. named Colin Dougherty senior vice president of finance, reporting to Bill Wafford, chief financial officer.

Dougherty will be responsible for leading finance strategy, operations, and financial planning and analysis.

Wafford said Dougherty will “support our focus on returning the company to sustainable and profitable growth…and will be an excellent addition to our team as we continue to take positive and proactive measures to further strengthen our capital structure and balance sheet while reestablishing the fundamentals of retail operations.”

Dougherty, who has 18 years of retail finance experience, joins Penney’s from Storch Advisors, a New York-based business strategy consulting firm, where he advised clients on strategy, growth, mergers and acquisitions, e-commerce and innovation. Prior to Storch Advisors, Dougherty served as senior vice president, financial planning and analysis, for Hudson’s Bay Co., where he focused on profit improvement, finance transformation and strategic sourcing initiatives. In addition, he launched HBC’s first strategic shared services center in Bangalore, India.

Dougherty spent the majority of his retail finance career at Target Corp. joining the company in 1993 as a financial analyst and assuming increasing levels of responsibility providing financial leadership to divisions including stores, merchandise, financial services, capital and technology. Prior to Target, Dougherty was a product manager and assistant vice president at U.S. Bank. He started his finance career at The Travelers.

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