J.C. Penney Stores Still Have Operational Problems
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Mike Ullman, the present CEO of J.C. Penney, will relinquish that post at the end of June 2015. He will stay on as non-executive chairman for a year. Marvin Ellison, president and chief executive-in waiting, will succeed Mr. Ullman in that position. While I haven't yet met with Ullman's successor, I have heard and read good things about him and sense that he motivates associates to do their best. He will certainly need that leadership skill. Ellison will have his hands full.