J.C. Penney names former Joann Stores CEO its top executive
Shares of J.C. Penney Co. Inc. rose 1.3% in the extended session Tuesday after the retailer said its board of directors has appointed retail veteran Jill Soltau as chief executive officer and a board member, effective Oct. 15. Soltau is a 30-year retail professional who most recently served as president and CEO of Joann Stores. "Jill stood out from the start among an incredibly strong slate of candidates," Paul J. Brown, board director and chairman of the search committee, said in a statement. Shares of J. C. Penney ended the regular trading day down 8.2%. The company's chief financial officer resigned last week, and its previous CEO Marvin Ellison left in May to join Lowe's Cos.
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