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Topic - Myron E. Ullman Iii
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"As we continue to position our company for the future, we determined that these steps are necessary to capitalize on the growth opportunities we see ahead while we ensure we are managing costs appropriately and continually enhancing the profitability of our operations," Chairman and CEO Myron E. Ullman III said in a statement.
In Penney's statement Monday, Mr. Ullman said, "We welcome Bill and Steve to the board. They share our passion for operational excellence and are committed to enhancing value for all of the company's shareholders."