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J.C. Penney sourcing executive suddenly departs
Plano, Texas -- A Friday report by Business Insider said that Ken Mangone, executive VP product development, design and sourcing for J.C. Penney Co., has abruptly resigned the company.
Mangone has been with the retailer since 1977 and is credited with helping to establish J.C. Penney’s private brands.
“We can confirm that Ken Mangone is no longer with the company,” a J.C. Penney spokesman told Business Insider. “We wish Ken continued success and thank him for his years of service….” -
Head of S.E.C. to step down
New York -- Mary L. Schapiro, the first woman to be permanent chairman of the U.S. Securities and Exchange Commission, announced she will step down on Dec. 14.
Schapiro was appointed head of the SEC by President Obama in 2008, one month after the Bernie Madoff scandal emerged, and she officially took office in 2009 at the peak of the financial crisis. Many experts say her four years were the toughest stretch any SEC chief has faced.