J C Penney Company, Inc. (NYSE:JCP) has revealed on Wednesday that it will be hosting an analyst meeting with the executive officers on August 17.
As Marvin Ellison, J C Penney Chairman and CEO, opens the analyst meeting, the executive officers will present strategic prospects and initiatives for the next three-year period.
A question and answer (Q&A) portion will immediately follow the presentations of the executive officers. The entire event will be broadcasted real-time on the company’s official investors relations website.
Q2 Earnings Report Release
Last week, J C Penney has also announced that it will be issuing its second quarter earnings report on Friday. Immediately following the release is a conference call spearheaded by Ellison and Ed Record, J C Penney Chief Financial Officer (CFO), discussing the results.
Corporate Transition
Ellison was seated as the successor of Myron Ullman, III, former J C Penney CEO, effective August 1. This is in fulfillment of the corporate governance transition presented by the company two years ago.
Ellison has emerged to the helm from being the President of the company since joining in 2014. Prior to that, he served as the longtime Home Depot Inc (NYSE:HD) Executive Vice President (EVP) of US Stores from 2008 to 2014. He has been with Home Depot since 2002, holding different positions such as Senior VP (SVP) of Global Logistics and President of Northern Division. His earliest experience in operational management in the retail industry dates back nearly 30 years ago, with more than half of his career spent serving Target Corporation (NYSE:TGT). It then goes without saying, as Ullman, III believes, that Ellison is a perfect candidate to lead J C Penney as it works on long-term growth strategies given his extensive experience in the retail industry.
Currently, aside from his responsibilities in J C Penney, Ellison is also a member of FedEx Corporation (NYSE:FDX) Board of Directors.
Ellison is excited about this new endeavor, reiterating that it is an honor for him to follow the footsteps of Ullman, III in exploring the industry as he shaped J C Penney over the years.
