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Plano, Texas-Based J.C. Penney Co. Has High Hopes for New CEO.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, July, 2000 by Wood, Sean
Jul. 28--J.C. Penney Co.'s board hopes new Chief Executive Allen Questrom can work the same magic on its beleagured company that he worked for retail giants Federated Department Stores and Barneys New York.
"He has over 30 years of experience in the retail industry," James Osterreicher, who is retiring as Penney CEO, said during a conference call yesterday that followed the announcement of Questrom's hiring.
Osterreicher touted the 59-year-old Questrom's tenure as Federated CEO. Federated owns several department store chains, including Macy's and Bloomingdale's.
"He not only led the company out of bankruptcy, but he oversaw the acquisition of their longtime rival, Macy's," Oesterreicher said. "Most recently, he served as president and...
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