American apparel retailer JCPenney has appointed Marvin R. Ellison as the new Chairman of the company, effective August 1, 2016. Ellison succeeds Myron E. Ullman III who will be retiring in accordance with the transition plan that the company outlined in 2014.
“I am pleased that the board has appointed Marvin as Chairman. Over the past year and a half, he has proven himself to be the right leader for our Company, as we have made significant progress in implementing the changes needed to rebuild JCPenney into a successful, modern retailer with a profitable and sustainable business. It’s been a privilege to work closely with Marvin, and I am pleased to know that this company is in good hands for the future,” states Ullman while expressing his delight over Marvin’s appointment.
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Marvin has been the CEO of JCPenney since August, 2015. Earlier in 2014, he served as Executive Vice President of U.S. Stores of The Home Depot Inc., a home improvement specialty retailer.
JCPenney, one of the US’ largest apparel and home furnishings retailers, operates over 1,000 store locations across the country and Puerto Rico.
