Jill Soltau, CEO of JC Penney, is leaving the retailer after chapter

The signage will be displayed outside a JC Penney Co. store in Chicago, Illinois.

Christopher Dilts | Bloomberg | Getty Images

Jill Soltau, CEO of JC Penney, who wanted to turn the contested department store over, will be leaving the company later this month.

The company’s new owners, Simon Property Group and Brookfield Asset Management, said Wednesday that they are looking for a new leader for the old retailer.

Penney filed for bankruptcy in May and showed up earlier this month. It joined a growing list of retailers marginalized by the coronavirus pandemic.

This story evolves and is updated.

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