Pursuits
J.C. Penney Seeks Home Depot Treatment Under Ellison
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Marvin Ellison helped turn around Home Depot Inc. in the last decade. Now he’ll try to repeat that feat at J.C. Penney Co.
The department-store chain, struggling to emerge from $3 billion in losses in the past 3 1/2 years, yesterday named Ellison its next president and chief executive officer. He’ll leave his job running Home Depot’s U.S. store operations to join J.C. Penney on Nov. 1 and take the reins from CEO Mike Ullman on Aug. 1, the Plano, Texas-based company said in a statement.