Penney Names Incoming Chairman/CEO

Plano, TX-based J.C. Penney Co. has named Myron "Mike" Ullman III to succeed the retiring Allen Questrom as chairman/CEO. Ullman will join Penney on Dec. 1. From 1997 to 2001, Ullman was an executive with LVMH Moet Hennessy Louis Vuitton, leaving the luxury goods company as directeur general/group managing director. Previously he was chairman/CEO of DFS Group and of R.H. Macy & Co., guiding the latter through its bankruptcy filing, its reorganization, and its acquisition by Federated Department Stores.