J.C. Penney CEO Marvin Ellison, a former Home Depot executive, is leaving the department store chain after less than four years to become the top executive at Lowe’s. The announcement Tuesday, just days after J.C. Penney released disappointing results, sent its shares down more than 3 percent. Ellison, one of only a few African-American CEOs at a Fortune 500 company, will succeed Robert Niblock at Lowe’s on July 2. …read more
Source:: Yahoo Finance
