J.C. Penney Names Next President and Chief Executive

J.C. Penney recently named Marvin Ellison, a Home Depot executive, as the next president and chief executive, according to an article by the New York Times. Currently, Ellison is executive vice president for stores at Home Depot, and will join J.C. Penney on Nov. 1.

The New York Times article explains that Ellison’s background “suggests he will start with the fundamentals.” It also adds, before his 12-year tenure at Home Depot, he served for 15 years in various positions at Target.

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