J.C. Penney, ShopNBC name management changes

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J.C. Penney, ShopNBC name management changes

June 26, 2009

Plano, Texas--Chain retailers J.C. Penney and ShopNBC both announced yesterday changes to their management teams.

Ken C. Hicks, J.C. Penney's president, chief merchandising officer and board member, has resigned from his positions, effective July 6, to become the chief executive officer of a publicly traded specialty retailer, according to a media release.

In the interim, J.C. Penney Chairman and CEO Myron E. (Mike) Ullman, III, will assume Hicks' responsibilities, while the company conducts an executive search for a successor.

Hicks, 56, has held his current position at J.C. Penney since 2005.

Commenting on the resignation, Ullman said Hicks' strong merchandising and marketing leadership has helped solidify J.C. Penney's position in the hearts and minds of millions of consumers nationwide as the shopping destination for great style and quality at affordable prices.

"J.C. Penney's board of directors and associates are grateful for Ken's dedicated service and contributions to J.C. Penney's success and wish him the best of luck in his new position," Ullman said. "We have a strong leadership team in place and look forward to adding to it in the near future with a worthy successor to Ken."

Meanwhile, ShopNBC parent ValueVision Media named retailing veteran Randy Ronning chairman of the board at its annual meeting on Thursday, succeeding John Buck, who has voluntarily stepped down.

Buck, who has been a member of the board since 2004 and stepped in as chairman in 2007, will remain on ShopNBC's board of directors.

Ronning joined ShopNBC's board in January after the home-shopping network pulled itself off the block. He is a 36-year veteran of the retailing industry and most recently served as executive vice president and chief merchandising officer for QVC and QVC.com, where he oversaw all merchandising, brand management and merchandise analysis efforts.

ShopNBC CEO Keith Stewart will retain his position and had high praise for Ronning.

"With his instrumental guidance, we have the right combination of industry expertise, leadership structure and experience to advance our strategies during this period of transition at our multi-channel electronic retailing business," Stewart said in a media release.

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J.C. Penney, ShopNBC name management changes

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