October 13, 2014
This undated photo provided by Home Depot Inc. shows Marvin Ellison, the company's executive vice president of stores. J.C. Penney on Monday, Oct. 13, 2014 said that Ellison will become its president in November and CEO next August. (AP Photo/Home Depot Inc.)
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JC Penney names Ellison as its next CEO
NEW YORK (AP) — J.C. Penney's newly tapped CEO has a big challenge ahead of him: The troubled chain is showing signs of improvement after racking up billions in losses, but still hasn't figured out how to get shoppers back into its department stores.