Former Campbell Soup executive B. Craig Owens is joining J.C. Penney's board.
Owens, 60, recently retired as chief financial officer for Campbell Soup Co.
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The retailer is holding a highly anticipated analyst day Wednesday in New York City, its first in three years.
Shares of J.C. Penney Co., based in Plano, Texas, rose 3 percent to 9.45 in premarket trading.