JCPenney Exec Joins Martha Stewart Board

NEW YORK - JCPenney's senior vp of corporate strategy has been elected to the board of directors at Martha Stewart Living Omnimedia.
     At Penney, Robert Peterson is responsible for identifying growth opportunities and strategic alliances.
     JCPenney acquired a 16.6% stake in MSLO in December 2011 and recently rolled out a collection of MarthaHome merchandise in its stores and online.
     Because of a pending lawsuit from rival Macy's, JCPenney thus far has been barred from carrying Stewart-branded bedding, bath and kitchenware, which Macy's said are exclusive under its contract with MSLO.

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