Kent Foster to Retire from J.C. Penney’s Board

Kent B. Foster will retire from the board of directors of J.C. Penney Co. Inc. at the end of his term, which concludes May 15 at the company’s annual shareholders’ meeting. Foster, who joined Penney’s board in August 1998, is the former chairman of Ingram Micro Inc., and also served as president and vice chairman of the board at GTE Corp. Foster previously chaired Penney’s audit committee and currently chairs the human resources and compensation committee and is a member of the corporate governance committee. “Kent’s extensive experience in communications and technology has enabled J. C. Penney to identify opportunities in digital retailing and operational efficiency. His guidance has been instrumental to enhancing the customer experience at J.C. Penney,” said Myron E. “Mike” Ullman III, chief executive officer. According to an 8-K filing, Foster’s decision not to stand for re-election “was not the result of any disagreement with the company or the board of directors.”

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