|William Ackman and Steven Roth Elected to JCPenney Board of Directors|
PLANO, Texas, Feb. 9, 2011 /PRNewswire via COMTEX/ --
J. C. Penney Company, Inc. (NYSE: JCP) today announced that its Board of Directors has elected William A. Ackman, founder and CEO of Pershing Square Capital Management, and Steven Roth, chairman of the board of Vornado Realty Trust, as directors. The Board's plans to elect Mr. Ackman and Mr. Roth had been previously announced by the Company on Jan. 24, 2011.
Pershing Square and Vornado are among the Company's largest shareholders and Mr. Ackman and Mr. Roth each have notable expertise in areas of relevance to JCPenney's business.
JCPenney, one of America's leading retailers, operates over 1,100 department stores throughout the United States and Puerto Rico, as well as one of the largest apparel and home furnishing sites on the Internet, jcp.com. Serving more than half of America's families each year, JCPenney offers a wide array of private, exclusive and national brands which reflect the Company's vision to be America's shopping destination for discovering great styles at compelling prices. Traded as "JCP" on the New York Stock Exchange, the $17.8 billion retailer is transforming its organization to support its Long Range Plan strategies to build a sustainable, profitable enterprise that serves its customers, engages its associates and rewards its shareholders. For more information, visit www.jcpenney.net.
SOURCE J. C. Penney Company, Inc.
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