jcpenney Announces Expansion of Its Leadership Team

J. C. Penney Company, Inc.

today announced the appointment of several acclaimed industry leaders who join the company as it redefines the jcpenney brand and revolutionizes the retail shopping experience. Benjamin Fay, 40, has joined the jcpenney team as EVP, real estate, store design and development. Leading the Company's strategic presence in more than 1,100 locations in the U.S. and Puerto Rico, Fay will guide the development of the all new jcp store of the future intended to create an entirely new interface for retail. Additionally, he will be responsible for the implementation of the Shops™ strategy, as well as the remodel and maintenance of all existing jcp stores. Fay joins jcpenney from Apple, where he served as senior director of retail real estate, design and development. In this role, he led the design team responsible for upholding the brand image and unique design aesthetic associated with its worldwide portfolio of Apple retail stores. Prior to this position, Fay worked at Gensler on the Apple account, where his creative talents were instrumental to overseeing the standard design execution of Apple retail stores across the country. Fay will report to Chief Executive Officer Ron Johnson. John Singleton, 51, has been appointed EVP, chief supply chain officer. With nearly 20 years of industry experience, Singleton is responsible for leading the Company's global supply chain operations by overseeing its domestic and international transportation and distribution networks. Singleton is charged with simplifying the supply chain processes by driving quality and efficiency throughout jcpenney's logistics operations. Singleton previously worked for Abercrombie & Fitch, where he was responsible for distribution, transportation, trade policy and brand protection functions. Prior to that, Singleton served as senior vice president of logistics and trade at Ann Taylor Stores and held positions leading distribution efforts for The Stanley Works, Circuit City Stores and The Stride Rite Corporation. Singleton retired as a lieutenant colonel after 22 years of military service in the U.S. Air Force. Singleton will report to jcpenney Chief Operating Officer Mike Kramer. Kristin Hays, 41, has been promoted to SVP, communications. In her new role, Hays will oversee the Company's corporate and internal communications functions, as well as investor relations. Through her leadership, all company communications will be strategically aligned to ensure messaging is cohesive and reinforces the new jcpenney brand. Hays joined jcpenney in 2002 as a litigation attorney and held a variety of leadership positions within legal, corporate communications and investor relations, most recently as vice president of investor relations. Hays will report to jcpenney President Michael Francis.