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Ullman to succeed Questrom at Penney

PLANO, Texas — Myron Ullman III will replace Allen Questrom as chairman and CEO of J. C. Penney Company, Inc. on Dec. 1.

During the past 15 years, Ullman led businesses in the United States (R. H. Macy & Co. and DFS Group, Ltd.),Asia(the Wharf Holdings) and, most recently,Europe(LVMH Moet Hennessy Louis Vuitton).From 1992 to 1995, he was chairman and CEO of New York-based R. H. Macy & Co., Inc. He became Macy's chairman and CEO in April 1992, several months after the company filed for bankruptcy protection.Ullman serves as a director of Polo Ralph Lauren Corp., Starbucks Coffee Company,TaubmanCenters, and Segway, LLC, and he serves on the board of advisors of Kendall Jackson Wine Estates, Ltd. He is also chairman of Mercy Ships International. He served as an independent director and co-chairman of Global Crossing as its board conducted the special investigation of alleged accounting irregularities.

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