J.C. Penney Fails to Tap HSN's Grossman as CEO … Here's Why

Despite having a pulse this year after a disastrous 2013, J.C. Penney can't secure a permanent CEO to take the reins from current leader Mike Ullman. According to a Wall Street Journal report, Mindy Grossman, CEO of Home Shopping Network and a highly regarded retail industry executive, turned down the chance to become J.C. Penney's next chief some two months ago. That means Grossman turned down the gig around the time of J.C. Penney's May 15 first-quarter earnings report, in which it delivered both top- and bottom-line results that were ahead of Wall Street expectations.