J.C. Penney names Home Depot VP of stores as president and next CEO

Plano, Texas -- J.C. Penney on Monday appointed Marvin Ellison president and CEO-designee, effective Nov. 1. Ellison, executive VP of stores for Home Depot, will also join the company’s board of directors.



Ellison, 49, will succeed Mike Ullman, III, as CEO of Penney on Aug. 1, 2015, when Ullman will become executive chairman of the board for one year.



“It is a great pleasure to welcome Marvin Ellison to J.C. Penney,” Ullman said. “His experience and leadership are exactly what we need to accelerate the progress we have made over the last 18 months. I look forward to working closely with him and the rest of our outstanding team in the coming months to ensure a smooth transition and a successful future for J.C. Penney.”



Ellison has spent the last 12 years at Home Depot. He was named executive VP of U.S. stores for the retailer in August 2008. Prior to that, he was president of the Northern Division. Previously, he was senior VP of global logistics, with oversight of all domestic distribution, transportation, store and appliance delivery, import distribution and international logistics throughout the United States, Canada, Mexico, China and more than 35 other countries.



Before joining Home Depot, Ellison spent 15 years with Target in a variety of operational roles.



“I am honored by this appointment and excited about the opportunity to help lead the continued resurgence of J.C. Penney,” Ellison said in a statement. “This company has been an important part of the American retail landscape for over one hundred years. Today, it is moving in the right direction and there is an extraordinary passion to win at every level of the organization. As president and, ultimately, CEO, I will be focused on positioning the company to compete in a rapidly changing retail environment for the benefit of our customers, shareholders, suppliers and associates. I am confident that we have the customer proposition, the brand, and the talent to make J.C. Penney successful over the long term.”