Penney says controller has left the company

PLANO, Texas (AP) - J.C. Penney Co. is announcing that its senior vice president and controller Mark R. Sweeney has left the company.

Separately, the Plano, Texas company said it is selling 84 million shares in a public offering.

In a statement filed with regulators Thursday, the department store chain said Dennis P. Miller, senior vice president, finance, will serve as the interim principal accounting officer. The news comes as Penney is trying to recover from a failed plan spearheaded by its former CEO Ron Johnson to transform the company that resulted in disastrous results. Johnson was ousted in April and replaced by his predecessor Mike Ullman who was CEO from 2004 to late 20011.

Shares slid 5 percent to $9.90 in after-hours trading after climbing nearly 3 percent during regular trading.


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 This material may not be published, broadcast, rewritten or redistributed.)

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