The Associated Press June 7, 2012, 5:54PM ET

Penney names executives for men's, home divisions

J.C. Penney Co. announced the promotion and addition of several executives, marking the company's latest efforts to boost its leadership team as it undergoes a transformation.

"Our sights are set on revolutionizing the way America shops, and having the best leaders in place is instrumental to helping us fully realize this vision," said Ron Johnson, who became Penney's CEO in November. Under his stewardship, Penney is overhauling every aspect of its business, from pricing to the brands it carries.

The Plano, Texas-based department store chain said late Thursday that it has promoted John Tighe, senior vice president and former general merchandise manager of the company's home division, to become general merchandise manager of the men's division. In his new role, Tighe will lead the team responsible for enhancing the company's men's merchandise assortment.

Paul Rutenis has been promoted to senior vice president and general merchandise manager for the chain's home division. Rutenis joined Penney in April 2011 as the divisional merchandise manager of furniture and decorative accessories.

Both executives will report to chief merchant Liz Sweney.

Penney also announced that Preston Moxcey joined the company as the divisional merchandise manager for men's clothing and accessories. He had been national merchandise manager for men's furnishings and accessories at Nordstrom Inc. Moxcey will report to Tighe.

In operations, Penney named Bob Peterson, who led the global equities business at Piper Jaffray, as senior vice president of operational strategy. He will be responsible for identifying and evaluating key business opportunities and strategic alliances. He will report directly to both Chief Operating Officer Mike Kramer and Chief Financial Officer Ken Hannah.

Penney also promoted Thorsten Weber to senior vice president, merchandising planning and allocation. Vaneet Grover was named as senior vice president, procurement. He was previously the senior vice president, supply chain for Tandy Brands. Both will report to Kramer.


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