Who Is Marvin R. Ellison? JC Penney Announces Resignation Of Chairman And CEO Amid Stock Decline
May 24, 2018
Retailer J.C. Penney on Tuesday announced that Chairman and CEO Marvin R. Ellison has resigned from his position as the company has suffered a two-year decline in revenue. Ellison’s decision comes as the company looked to turn things around as it lost $69 million last quarter.
J.C. Penney will reportedly replace him with four executives that will make decisions while it searches for new candidates for the position.