AT PENNEY: ULLMAN IN, ALLEN OUT, VANESSA...?(Myron Ullman)(Allen Questrom)(Vanessa Castagna)(J.C. Penney Company Inc.)
HFN: The Weekly Newspaper for the Home Furnishing Network, November, 2004 by Thau, Barbara
Byline: Barbara Thau
PLANO, Texas-Myron Ullman, who becomes chairman and chief executive officer of J.C. Penney next month, has big shoes to fill. But will his arrival cause Vanessa Castagna, who was passed up for the job, to slip on her walking boots?
Last week, J.C. Penney unexpectedly tapped the former Macy's CEO to succeed Allen Questrom, the turnaround king who led a revival at the midmarket chain that became the biggest comeback story in retail.
Penney's board of directors tapped Ullman for his experience as a CEO of retailers such as Macy's and his brand-building acumen, passing up heir apparent Castagna, chairman and CEO of Penney's stores, catalog and Internet.
"Obviously, this has been a very difficult decision that the...
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