J.C. Penney (JCP) EVP of Construction Departs

April 23, 2013 6:04 PM EDT
J.C. Penney's (NYSE: JCP) EVP of construction Ben Fay has left the company, according to reports late on Tuesday. J.C. Penney was planning to spend millions to revamp its stores, in-line with former CEO Ron Johnson vision, so the departed is significant in the regard, and JCP will likely continue these efforts.

Interestingly, recent reports say J.C. Penney may have skirted building codes in an effort to speed construction, and there is speculation Fay's departure is tied to these reports.

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