J.C. Penney Co. Inc. has named Lisa A. Payne, vice chairman of Taubman Centers, and J. Paul Raines, chief executive officer of GameStop Corp., to its board of directors.
“Lisa and Paul are two accomplished executives with distinguished backgrounds of connecting with customers and driving results,” said Marvin R. Ellison, ceo of J.C. Penney. “As J.C. Penney continues to enhance its omnichannel capabilities, deliver best-in-class private brands and drive revenue per customer, their understanding of the retail industry make them excellent additions to our board.”
Payne has spent 19 years at Taubman Centers Inc. Prior to becoming vice chairman, she was chief financial officer and chief administrative officer. Before joining Taubman, she was a vice president in the real estate department of Goldman, Sachs & Co.
Raines has been with GameStop, the world’s largest video game retailer with over 7,100 stores in the U.S. and 14 other countries, since 2008 when he joined as chief operating officer. Earlier, he spent eight years with The Home Depot including serving as executive vice president of U.S. stores, four years in global sourcing at L.L. Bean and ten years with Kurt Salmon Associates in their consumer products group.
The two new board members replace Thomas J. Engibous who leaves the board after 17 years as a director including chairman from 2012 to 2015, and Stephen I. Sadove, the former Saks Fifth Avenue chairman and chief executive, who will leave the board to spend more time on his business and personal ventures.