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 This material may not be published, broadcast, rewritten or redistributed.)

Top Stories

  • Even In Death
    A woman's fight against the City of Seattle to keep her parking lot continues

  • Brunch
    We can't stop drooling over these favorite brunch spots
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
In the community
Do you know a student who stands out in the classroom, school and community?
Help make their dreams come true by nominating them for a $1,000 scholarship and a chance to earn a $10,000 Grand Prize. Brought to you by KIRO Radio and Comprehensive Wealth Management.

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.