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CEO Marvin Ellison to Exit J.C. Penney

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J.C. Penney chairman and CEO is set to return to his roots. The retailer announced Tuesday that Marvin Ellison has resigned his post as chairman and CEO. Ellison’s last day as chief executive will be June 1. He vacates the post of chairman immediately. Ellison is leaving to join Lowe’s Companies. The department store’s board…

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