CBS 11 Header TXA 21 Header MeTV Header KRLD Header The Fan Header
CBS DFW WEATHER APP: iPhone App Store | Android App Coming Soon | More Information

Local

JCPenney’s New CEO Will Ease Into Job

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up

From Our CBS Music Web Sites

625x352 thrill eng preview JCPenneys New CEO Will Ease Into JobWin A Trip To Disneyland!

82641739 10 JCPenneys New CEO Will Ease Into JobHottest Sunbathers Of The Summer

jennifer lopez 770 JCPenneys New CEO Will Ease Into JobJennifer Lopez's Bathtub Selfie

 alt=The New Wonder Woman

 alt=Musicians Then And Now

Fantasy_tile

VOTE: Best Coaches In American Sports

PLANO (AP) - JCPenney says its newly-designated CEO from Apple won’t assume the job’s full duties until February, even though he takes the title in November.

The company announced last week that 52-year-old Ron Johnson will succeed Myron Ullman III, its CEO and chairman since December 2004, on November 1st.

But the retailer said Monday that Johnson will only take over merchandising and marketing responsibilities on that date.

He will take over the rest of his CEO responsibilities on February 1st after a three-month transition. During that period Ullman will serve as executive chairman.

The CEO change announcement last week sent shares up 14 percent during the week. It shares were steady Monday at $34.29 in pre-market trading.

JCPenney Co. operates 1,100 department stores and is based in Plano, Texas.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)