Hints and tips:
...She will succeed Myron Ullman III when he retires in March. Hobson is the co-CEO at Ariel Investments and is also on the board of JPMorgan Chase....
...Mr Johnson took over the company from Mr Ullman in November 2011, pledging to modernise it....
...Since the return of former chief executive Mike Ullman in April 2013, the retailer has restored the coupons and brands that helped lure middle-income shoppers to its stores....
...And so JC Penney furiously abandoned those changes (dumping saviour CEO Ron Johnson a year ago) and went back to its previous technique (rehired old CEO Mike Ullman)....
...Mr Ullman, a company veteran, returned to JC Penney in early 2013, replacing former Apple executive Ron Johnson....
...Chairman Mike Ullman on Wednesday declared the “most challenging and expensive parts” of the company’s turnround behind it....
...Parachuted back into the retailer in early 2013 after the troubled tenure of former Apple executive Ron Johnson, chief executive Mike Ullman has sought to revive sales by restoring the discounts and brands...
...Mike Ullman, chief executive of the Texas-based company, said its turnround efforts were on track....
...Mike Ullman, chief executive, said on Wednesday: “Our strategies to reconnect with customers are beginning to take hold, and this became increasingly clear as the quarter progressed.”...
...He was replaced by Mike Ullman in April this year, and the new chief has struggled to restore market confidence....
...His decisions to scrap discounting and some clothing brands are being reversed by Mr Ullman....
...And reports said Mike Ullman, the chief executive, told investors a capital-raising wasn’t needed this year....
...Mr Ullman is trying to reverse many – though not all – of his decisions, but for now the stores still bear a large Johnson imprint....
...Ms Dunn said Mr Ullman deserved credit for restoring depleted employee morale and securing new financing quickly in the past three months, including from Goldman Sachs....
...The director who helped install Mr Johnson, the hedge fund manager Bill Ackman, resigned from JC Penney’s board this week after falling out with fellow directors over his dissatisfaction with Mike Ullman...
...But Mr Johnson oversaw a disastrous fall in sales and in April the board ousted him and rehired Mr Ullman....
...At JC Penney, scene of a recent boardroom spat that led to the resignation of the investor Bill Ackman as a director, the group’s chief executive Mike Ullman said he had made progress in stabilising the...
...Mr Engibous said the company had made “significant progress” under Mr Ullman....
...Liz Dunn, analyst at Macquarie, said she considered Mr Ullman the right leader for the time being, but noted: “There is not a consensus out there as to whether or not Ullman’s leadership is a good thing....
...In the same quarter in 2011, when Mr Ullman was chief executive, its sales were $3.9bn. However, Mr Ullman said he was “encouraged” by sales trends since the end of the previous quarter....
...Mike Ullman will rejoin the company as CEO. This would work better with gifs, but I don’t know how to make them....
...The stock market did not welcome Mr Ullman’s return....
...He was replaced by Mike Ullman, his predecessor, who had been ousted himself to make way for Mr Johnson....
...Mr Ullman is yet to reveal his broader strategy for the business, which analysts had said entered slow decline during his previous tenure from 2004 to 2011....
...Mr Johnson was replaced by Mike Ullman, his predecessor, who has set about shoring up the confidence of investors and suppliers in JC Penney....
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