Ellison becomes J.C.P Boss-in-Waiting
J.C. Penney Company Inc. has named Marvin Ellison, an executive at Home Depot, chief executive officer- in-waiting.
Ellison, 49, will become president of J.C. Penney and CEO-designee on Nov. 1, company officials announced on Monday. He then will succeed Myron E. “Mike” Ullman, III, as CEO on Aug. 1, 2015.
“I am honored by this appointment and excited about the opportunity to help lead the continued resurgence of J.C. Penney,” Ellison said. “The company has been an important part of the American retail landscape for over one hundred years.”
Ellison has been executive vice president of Home Depot’s U.S. Stores since August 2008. Home Depot, the Atlanta-based hardware chain operates approximately 1,950 stores nationwide and more than 2,200 worldwide.
J.C. Penney, one of the nation’s largest retailers, operated 1,063 stores in 2014′s second quarter. The company is based in Plano, Texas.
Ellison has a bachelor’s degree in marketing from the University of Memphis and a MBA from Emory University.