JCPenney's Executive Moves
Plano, Texas–based JCPenney Co. Inc. named Ron Johnson chief executive officer, succeeding Myron E. (Mike) Ullman III. The two executives will work together for several months to ensure a smooth transition. Johnson will join the company’s board of directors on #8232;Aug. 1 and will officially take up the CEO duties on Nov. 1. Ullman will remain as executive chairman of the board until Feb. 1, 2012. JCPenney Co. operates more than 1,100 JCPenney department stores in the United States and Puerto Rico, as well as an e-commerce site at JCP.com.
