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J.C. Penney Company, Inc. (JCP) News: Shares Up, Bill Ackman Wants New CEO, Debra Berman & More

Editor’s Note: J.C. Penney Company, Inc. (NYSE:JCP)

PERSHING SQUAREJCP shares up on CNBC report of new CEO search (News & Observer)
Shares of J.C. Penney Company, Inc. (NYSE:JCP) shares jumped nearly 7 percent on Thursday on a media report that the retailer is starting a new CEO search to replace Mike Ullman. Ullman, who had been J.C. Penney’s CEO from 2004 to 2011, retook the reins in April after Penney CEO Ron Johnson was ousted after 17 months on the job after a radical makeover of the chain failed to boost results. CNBC reported that the company is seeking a new CEO and that activist investor Bill Ackman sent a letter to J.C. Penney’s board saying the process should be sped up. Former J.C. Penney Company, Inc. (NYSE:JCP) CEO Allen Questrom, who ran the company from 2000 to 2004, said in an on-air interview on CNBC he would consider coming aboard as chairman under the right circumstances, if he agreed on the choice of CEO and as long as the board wasn’t hostile.

‘Just a couple of quarters’ left for JCP? (
Foundering retailer J.C. Penney Company, Inc. (NYSE:JCP) needs “a big turnaround” and is running out of time to get it right, Macquarie’s Liz Dunn said Thursday. Asked who might be able to turnaround the company’s fortunes, Dunn said it was difficult to say. “That’s premature,” she said. “It’s hard for me for me to react to that, but I think it would need to be someone who has experience with sort of the moderate-income consumer, has experience with couponing, has experience with merchandising and marketing and can really be a confidence-inspiring leader for the vendor community and the lender community.”

jcpenney appoints Debra Berman as SVP of marketing (The Beverly Hills Courier)
J.C. Penney Company, Inc. (NYSE:JCP) announced the appointment of Debra Berman as senior vice president of marketing, effective Aug. 2. In this role, Berman will be responsible for leading the Company’s marketing efforts with a focus on revitalizing the jcpenney brand, building its brand architecture and communicating the jcpenney brand promise. Berman will join the Company’s executive board, reporting to Myron E. (Mike) Ullman, III, chief executive officer for jcpenney. “Debra Berman is an enormously talented marketing executive, and her desire to join the jcpenney team is a testament to our brand and its potential,” said Myron E. (Mike) Ullman, III, chief executive officer for jcpenney.

Former JCP CEO talks to CNBC (CNBC)

J. C. Penney Company, Inc. to Report Second Quarter 2013 Financial Results on August 20, 2013 at 7:30 a.m. ET (MarketWatch)
J.C. Penney Company, Inc. (NYSE:JCP) announced today that it will release its second quarter 2013 financial results on Tuesday, August 20 at 7:30 a.m. ET, followed by a live conference call and webcast conducted by Chief Executive Officer Mike Ullman and Chief Financial Officer Ken Hannah that will begin at 8:30 a.m. ET.

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