J.C. Penney Names Chairman of the Board

J.C. Penney announced that Thomas J. Engibous will become chairman of its board of directors, effective Jan. 28. Engibous was named to the board in 1999 and has served in presiding director and lead independent director roles since 2008. He will assume the chairman's role from Myron E. Ullman, III, J.C. Penney’s former CEO, who will step down as executive chairman. Engibous is the retired chairman of Texas Instruments Inc.