June 20, 2011 – NEW YORK (Reuters) - J.C. Penney Co Inc <JCP.N> said Chief Executive Officer Myron Ullman will leave the retailer and step down from its board in February.
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The news came less than a week after the department store chain named Ron Johnson, Apple <AAPL.O> senior vice president of retail, as its next CEO.
Ullman was set to stay on as executive chairman for an intermediate period.
(Reporting by Dhanya Skariachan and Phil Wahba; Editing by Lisa Von Ahn)