Form 8-K J C PENNEY CO INC For: Sep 21
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E-mailUNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): September 21, 2016
J. C. PENNEY COMPANY, INC.
(Exact name of registrant as specified in its charter)
Delaware | 1-15274 | 26-0037077 |
(State or other jurisdiction of incorporation ) | (Commission File No.) | (IRS Employer Identification No.) |
6501 Legacy Drive Plano, Texas | 75024-3698 |
(Address of principal executive offices) | (Zip code) |
Registrant's telephone number, including area code: (972) 431-1000
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
(d) Effective September 21, 2016, the Board of Directors (the “Board”) of J. C. Penney Company, Inc. (the “Company”) has elected Paul J. Brown as a member of the Board. There are no arrangements or understandings between Mr. Brown and any other person pursuant to which he was elected as a director. The committees of the Board on which Mr. Brown will serve have not yet been determined.
In connection with his election to the Board, and pursuant to the terms of the Company’s 2016 Long-Term Incentive Plan, Mr. Brown will be granted an award of restricted stock units that represents a pro-rata amount of the current annual equity award to non-associate directors based on the effective date of his election.
A copy of the press release announcing Mr. Brown’s election to the Board is filed with this report as Exhibit 99.1.
Item 9.01 | Financial Statements and Exhibits. | |
(d) | Exhibit 99.1 | J. C. Penney Company, Inc. News Release dated September 21, 2016 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
J. C. PENNEY COMPANY, INC. | |
By: | /s/ Janet Link Janet Link Executive Vice President, General Counsel |
Date: September 21, 2016
EXHIBIT INDEX
Exhibit Index | Description |
99.1 | J. C. Penney Company, Inc. News Release dated September 21, 2016 |
Exhibit 99.1
PAUL BROWN JOINS JCPENNEY BOARD OF DIRECTORS
PLANO, Texas - (Sept. 21, 2016) - J. C. Penney Company, Inc. (NYSE: JCP) today announced the election of Paul Brown, chief executive officer of Arby’s Restaurant Group, Inc., to its board of directors. With extensive experience in the food service, hospitality, e-commerce and consulting industries, Brown has a proven track record of improving the performance of leading global and franchise brands.
“Paul is credited for building the financial performance at several global brands by understanding the importance of attracting a new generation of customers as the primary means for sustainable growth,” said Marvin R. Ellison, chairman and chief executive officer of JCPenney. “His broad expertise makes him an excellent addition to our board as JCPenney continues delivering lasting customer loyalty through value, exclusive shopping experiences and enhanced omnichannel execution.”
“I’m honored to join the board of directors at JCPenney - a Company with a rich history of meeting the needs of an ever-changing American consumer,” Brown added. “It’s a privilege to work with a team that understands the need for a fully integrated online and in-store experience, while staying true to its founding values of excellent service and quality merchandise.”
Brown has spent three years leading Arby’s Restaurant Group, Inc., a company operating and franchising more than 3,300 restaurant locations worldwide. He is responsible for a successful brand revitalization at Arby’s, focusing on company culture, customer service, and new brand positioning and marketing campaigns. Prior to Arby’s, Brown served as president, brands and commercial services at Hilton Worldwide, a hospitality company with more than 4,700 hotels, resorts and timeshare properties. Prior to that, Brown served as president of Expedia North America and Expedia Inc.’s Partner Services Group at Expedia, Inc., the world’s largest online travel company, and was also partner at McKinsey & Co. consulting. Brown currently serves on the board of directors at H&R Block, Inc. and Lindblad Expeditions Holdings, Inc., and is a member of the Georgia Tech Foundation’s board of trustees.
Brown has a B.A. degree in business administration and management from Georgia Institute of Technology, and an MBA in marketing and finance from Northwestern University. In June, he was named recipient of an EY Entrepreneur of The Year® 2016 Award in the Southeast.
Media Relations:
(972) 431-3400 or [email protected]; follow us at @jcpnews
Investor Relations:
(972) 431-5500 or [email protected]
About JCPenney:
J. C. Penney Company, Inc. (NYSE: JCP), one of the nation's largest apparel and home furnishings retailers, is on a mission to ensure every customer’s shopping experience is worth her time, money and effort. Whether shopping jcp.com or visiting one of over 1,000 store locations across the United States and Puerto Rico, she will discover a broad assortment of products from a leading portfolio of private, exclusive and national brands. Supporting this value proposition is the warrior spirit of over 100,000 JCPenney associates worldwide, who are focused on the Company's three strategic priorities of strengthening private brands, becoming a world-class omnichannel retailer and increasing revenue per customer. For additional information, please visit jcp.com.
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