Report: J.C. Penney CEO to receive big exit payout

New York City -- J.C. Penney Co. CEO Myron "Mike" Ullman is on track to receive a hefty exit package when he retires from the company in early 2012. The package currently is valued at about $30.7 million, according to an analysis prepared for The Wall Street Journal.



Ullman will be succeeded by Apple retail guru Ron Johnson.