Former HD exec joins J.C. Penney
Ken Hannah, a former senior VP at Home Depot, has been named the new CFO at J.C. Penney.
Hannah brings more than 20 years of finance, operations and audit experience from a wide range of companies that include General Electric, Boeing and The Home Depot. He will report to chief operating officer Mike Kramer.
Hannah, 43, has spent the last six years at MEMC Electronic Materials, where he served as president of solar energy, responsible for improving process discipline, simplifying the organization and reducing cost to drive growth in the company’s solar business. He also held the position of chief financial officer of MEMC, where he was responsible for the leadership of all finance-related functions. Previously, he served in positions of increasing responsibility at The Home Depot, including senior VP finance, providing leadership in store operations and supply chain.
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STAFDA president plays ‘Moneyball’
In the latest Trade News newsletter from the Specialty Tools & Fasteners Distributors Association (STAFDA), Kramer Darragh said the modern baseball classic “Moneyball” has applications for the distribution industry.
The book (later made into a Hollywood movie) by Michael Lewis shows how tracking the data-driven strategies of the Oakland A’s illustrates the importance of breaking through conventional thinking in regard to business metrics. The book inspired a recent meeting of a small peer group — of which Darragh Co. is a member — that gets together twice a year to discuss best practices.
“Using “Moneyball” as an inspiration, the members were challenged to share unique metrics that they used in their own operations, Darragh wrote. “Things we had overlooked or had regarded from a different perspective took on a new importance with potential for significant improvement in our businesses.”
For instance, a metric for grading branches and a way to benchmark market penetration were discovered, he said.
STAFDA’s 36th Annual Convention & Trade Show will be held in Orlando, Fla., Nov. 4 to 6.