jcpenney Continues Building Senior Leadership Talent Across The Organization

 jcpenney Continues Building Senior Leadership Talent Across The Organization

PR Newswire

PLANO, Texas, June 7, 2012

PLANO, Texas, June 7, 2012 /PRNewswire/ -- As it continues to assemble a
world-class leadership team that merges the talents of new and existing
leaders,  J. C. Penney Company, Inc. (NYSE: JCP) today announced the promotion
and addition of several highly accomplished retail veterans to its
merchandising, operations and investor relations functions.

(Logo: http://photos.prnewswire.com/prnh/20110222/DA51975LOGO)

"Our sights are set on revolutionizing the way America shops, and having the
best leaders in place is instrumental to helping us fully realize this
vision," said jcpenney CEO Ron Johnson. "We're rethinking every element of the
retail business and there's no better way to re-imagine the possibilities than
to tap the proven abilities of our own extraordinary talent along with the
fresh perspectives offered by industry experts new to our organization."

Merchandising:

As jcpenney continues to deliver an exciting array of apparel and home
furnishing brands, the following individuals will lead merchandising
initiatives across the Home and Men's divisions under Chief Merchant Liz
Sweney.

  o John Tighe, SVP and former general merchandise manager of the jcp Home
    division, will become general merchandise manager of the Men's division.
    In his new role, Tighe will lead the team responsible for curating
    powerful, relevant brands and bolstering private and national brands that
    will inject a new level of style into its menswear assortment. Tighe
    joined the Company in 2002 as a senior buyer, and has held a variety of
    positions of increasing responsibility including DMM of juniors'
    sportswear. Prior to joining jcpenney, Tighe spent 12 years at May
    Department Stores in various merchandising roles within men's, young men's
    and juniors. Tighe also spent two years with Meier and Frank as a
    divisional merchandise manager in juniors.
  o Paul Rutenis has been promoted to SVP and general merchandise manager for
    the jcp Home division. Rutenis will provide leadership to Home merchandise
    teams and continue Tighe's effort of re-energizing the home merchandise
    assortment at jcpenney. Rutenis joined jcp in April 2011 as the divisional
    merchandise manager of furniture and decorative accessories. He began his
    career with May Department Stores in 1991 in a series of merchandising
    roles, and joined Dick's Sporting Goods in 2006 as a divisional
    merchandise manager.
  o Preston Moxcey joins jcp as the divisional merchandise manager for men's
    clothing and accessories. Moxcey will work closely with the Men's team to
    curate a best-in-class menswear assortment. Moxcey comes to jcp from
    Nordstrom, where he spent 11 years in positions of increasing
    responsibility, most recently as the national merchandise manager for
    men's furnishings and accessories. Moxcey will report directly to John
    Tighe.

Operations:

Reporting jointly to Chief Operating Officer Mike Kramer and Chief Financial
Officer Ken Hannah, the Company has announced an external candidate to fill
the newly-formed position of SVP, operational strategy.

  o Bob Peterson has been appointed to SVP, operational strategy, and will be
    responsible for identifying and evaluating key business opportunities and
    strategic alliances. Peterson joins jcp from Piper Jaffray where he held
    several distinguished roles over his 20-year career with the company. Most
    recently, he led the global equities business and spearheaded several
    initiatives to increase the efficiency of the team. Prior to that,
    Peterson served as head of the Private Client Services business, where he
    helped to transition the business to a wealth management model and execute
    the sale of the division to UBS. Peterson started his career with Piper
    Jaffray as a research analyst, eventually leading the entire research team
    for five years.

The following individuals will play a significant role in guiding operational
strategies across the Company, and will report to Chief Operating Officer Mike
Kramer.

  o Thorsten Weber has been promoted to SVP, merchandising planning and
    allocation, where he will continue to lead our merchandising planning and
    allocation efforts. Weber has a wide range of retail experience, having
    held multiple roles of increasing responsibility for the Company since
    2002. Prior to jcp, he worked for Kaufmann's department stores,
    progressing through their merchandise training program, ultimately holding
    the role of buyer.
  o Vaneet Grover has been appointed as SVP, procurement. Demonstrating a deep
    knowledge of global sourcing and supply chain optimization, Grover was
    previously the SVP, supply chain, for Tandy Brands, where he initiated the
    transformation of the company's end-to-end supply chain. His previous
    experience includes strategic sourcing and supply chain roles at
    Abercrombie & Fitch, Gap, Agilent Technologies and Boeing.

Investor Relations:

Under the leadership of Kristin Hays, SVP, communications, the following
appointment will play a key role in fostering an environment of transparency
and open dialogue with shareholders and members of the financial community.

  o Eric Cerny has joined jcp as VP, investor relations. Cerny brings an
    extensive background working with top retail companies, including Macy's,
    Home Depot and Abercrombie & Fitch, in a broad range of positions,
    including financial planning, merchandise planning, public relations and
    human resources. Most recently, Cerny oversaw investor relations at
    Abercrombie & Fitch, a position he has held for four years.

About jcpenney

Over 110 years ago, James Cash Penney founded his company on the principle of
treating customers the way he wanted to be treated himself: fair and square.
Today, rooted in its rich heritage, J. C. Penney Company, Inc. (NYSE: JCP) is
re-imagining every aspect of its business in order to reclaim its birthright
and become America's favorite store. The Company is transforming the way it
does business and remaking the customer experience across its 1,100 jcpenney
stores and on jcp.com. At every visit, customers will discover straightforward
Fair and Square Pricing, month-long sales that are in sync with the rhythm of
their lives, exceptionally curated merchandise, artful presentation, and
unmatched customer service. For more information about jcpenney, visit
jcp.com.

jcpenney media relations

Daphne Avila or Joey Thomas
(972)431.3400 – jcpcorpcomm@jcp.com

jcpenney investor relations

Kristin Hays or Angelika Torres
(972)431.5500 – jcpinvestorrelations@jcp.com

SOURCE J. C. Penney Company, Inc.