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J.C. Penney’s Next CEO: Myron Ullman Tapped To Succeed Questrom

J.C. Penney Co. named former LVMH and Macy’s executive Myron E. Ullman 3rd as chairman and ceo to succeed Allen Questrom.

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Macy’s stayed in bankruptcy for 35 months until getting swallowed by Federated, at which point Ullman split in 1995 to become chairman and ceo of the DFS Group chain of duty-free and retail shops around the world. About a year later, LVMH bought DFS and Ullman steadily rose up the ranks of the French luxury goods company, becoming head of the “selecting retailing” division, which included Sephora and DFS, and later becoming number two in command at LVMH, next to Bernard Arnault. When LVMH looked at the books for Barneys New York last year, Ullman was in on the talks about a possible acquisition, but no deal was reached.

— With contributions from Vicki M. Young
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