Chinni's on deck at JCP home

Carole Sloan, February 5, 2001

PLANO, Texas — As part of a major upper management restructuring of JCPenney stores and catalog, veteran department store retailer Charles Chinni has been named sr. vp, gmm for home and fine jewelry, and John Budd has been named sr. vp and chief marketing officer, effective Feb. 1.

At the same time, Penney announced changes in titles for the new executives to conform with the industry. The senior vp, gmm title replaces the Penney nomenclature of president of the various divisions.

Chinni, most recently was chairman and CEO of Strouds, City of Industry, CA. Chinni left Strouds in October 2000 "on administrative leave by mutual agreement" from the retailer that filed for protection under Chapter 11. He joined Strouds in 1999. Previously, he was executive vp, merchandising for Troy, Mi-based Kmart where he was responsible for all home, hard lines and apparel lines, a post he held from February 1995 to October 1995. Chinni also was president, merchandise for New York-based Macy's/Bamberger's, later Macy's East, responsible for home, cosmetics, fine jewelry and cosmetics until early 1995. He earlier held management positions in the Macy's home store, director of stores for Macy's Atlanta and Bamberger's and executive vp of development for Macy's corporate — a Macy's career that spanned 30 years.

He succeeds Ann Gravseth, president of the home division, who moves to a new position in the women's accessories division.

John Budd has been named senior vp, chief marketing officer. A retailing veteran who spent many years in executive positions with May Department Stores, Budd most recently was sr. vp, sales promotion and marketing at Macy's West from May 1995 to January 1997. Budd fills a post that has been open for some time.

Budd's career began at the now defunct Abraham & Straus in 1960 as a buyer. He left Federated in 1973 to join the now defunct Gimbels and leter joined May Co., Cleveland and later at May Co. California as executive vice president, merchandising for the home store. He rejoined Federated in 1990 as sr. vp, general merchandise manager of home at Jordan Marsh, Boston and when the merger of the Federated A&S and Jordan's divisions was completed, he left the company and returned to California in 1992 to form his own consulting company. Macy's California was one of his accounts.

Chinni, Budd and the two new apparel sr. vps report to Vanessa Castagna, company executive vp and president and coo of JCPenney stores, catalog and Internet. Chinni, Budd and William Cappiello, new sr. vp, general merchandise manager for men's and children's all have professional histories including roles at Macy's and/or Federated Department Stores. Federated acquired Macy's in 1995, at which time Allen Questrom, now chairman and ceo of J.C. Penney was chairman and chief executive officer of Federated.

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