JC Penney returns to the familiar with new CEO

(AP) - J.C. Penney is bringing back Myron E. "Mike" Ullman as its CEO after Ron Johnson's risky turnaround strategy backfired and led to falling sales.

Ullman's appointment is a return to the familiar for J.C. Penney. He was chief executive of the department store chain for seven years prior to Johnson's appointment. He had also been its executive chairman until January 2012.

Before joining J.C. Penney, Ullman was director general of luxury conglomerate LVMH Moet Hennessy Louis Vuitton. He has also been chairman and CEO of DFS Group Limited, a travel retailer, and CEO of R.H. Macy & Co.


(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Top Stories

  • At the Finish Line
    The man who saved horse racing in Washington tells Dori Monson why he's stepping away
ATTENTION COMMENTERS: We've changed our comments, but want to keep you in the conversation.
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.
comments powered by Disqus
Sign up for breaking news e-mail alerts from MyNorthwest.com
In the community
Do you know an exceptional citizen who has impacted and inspired others?
KIRO Radio and WSECU would like to recognize six oustanding citizens this year. Nominate them to be recognized and to receive a $2,000 charitable grant.