JCPenney Promotes 3 in New Leadership Structure

December 10, 2009  by in UnCategorized   

By Home Furnishings Business in on December 11, 2009 J.C. Penney Company Inc. (NYSE: JCP), Plano, Texas, announced Wednesday that it has promoted three executives, giving them expanded duties in a new senior merchandising leadership structure.

In light of the move, JCPenney has discontinued its search for a president.

The newly organized senior merchandising team will be led by Jeffrey J. Allison, Steven Lawrence and Elizabeth H. Sweney, each of whom now have the title executive vice president and senior general merchandise manager. Under the new structure, Allison will lead Home, Custom Decorating and now Fine Jewelry. Lawrence will now oversee Children's in addition to the Men's division. Sweney will lead Shoes and Women's Accessories in addition to Women's apparel. They report to Mike Ullman, chairman and CEO.

"We are fortunate to have the best chief executive in the retail industry in Mike Ullman, who is working extremely well with a team of high quality and talented managers across all functions of the company," said JCPenney Presiding Board Director Thomas J. Engibou. "JCPenney is on the right path with bold goals and innovative strategies that bode well for a promising future. We look forward to seeing Mike and his team continue to execute on their goals in the years ahead."

Mr. Ullman said, "JCPenney's senior merchandising team is made up of highly skilled, seasoned executives with a clear understanding of what our customers want and how best to respond to that demand with merchandise that reflects exciting style and the combination of quality and affordable pricing that is our hallmark," Ullman said. "It is enormously gratifying to see the progress they are making to ensure JCPenney's long-term success. We have a terrific pipeline of talented people and I am delighted to continue to lead this world class team in the coming years."

JCPenney operates 1,109 department stores throughout the United States and Puerto Rico, as well as one of the largest apparel and home furnishing sites on the Internet, jcp.com, and the nation's largest general merchandise catalog business.