J.C. Penney Names Marvin Ellison President, CEO-Designee

JCPenney has appointed Marvin Ellison as its new CEO, with a transition period lasting until August next year. Ellison, previously an executive at Home Depot, will bring his retail experience to JCPenney. The current CEO, Myron Ullman, will become executive chairman for a year. This change follows a series of leadership shifts, including Ron Johnson's tenure, which introduced unsuccessful changes. The company aims to ensure a smooth transition with a long lead time to avoid past mistakes.

Who was the interim CEO of JCPenney before Marvin Ellison was named the new CEO?

• Ron Johnson

• Myron Ullman

• Julie Hyman

• Marvin Ellison

When is Marvin Ellison expected to officially take over as CEO of JCPenney?

• December 31st of this year

• January 1st of next year

• August 1st of next year

• March 1st of next year

What was Marvin Ellison's position before being named CEO of JCPenney?

• Executive Vice President of Stores at Home Depot

• CEO of Target

• President of Walmart

• Chief Financial Officer at Macy's

What role will Myron Ullman take on after stepping down as CEO?

• Executive Chairman of the Board

• Chief Financial Officer

• Chief Operating Officer

• President of JCPenney

Which other retailer did Marvin Ellison have experience with before joining JCPenney?

• Best Buy

• Kohl's

• Target

• Walmart