J.C. Penney Co Inc Chief Financial Officer Ken Hannah on Wednesday insisted neither he nor Chief Executive Ron Johnson has any plans to resign despite growing pressure on the company over its turnaround plans.
"I'm not resigning. Ron is not resigning," Hannah said during a presentation at a Bank of America Merrill Lynch conference, which was monitored via webcast. He added the turnaround would take "a lot more patience" from investors.
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(Reporting by Phil Wahba; Writing by Ben Berkowitz; Editing by Gerald E. McCormick)