J.C. Penney Co. Inc. said Wednesday it has promoted John Tighe to the role of chief merchant and executive vice president, effective Oct. 1. Tighe will replace Elizabeth Sweney, who will continue in an advisory role until year-end and then retire, the retailer said in a statement. Tighe most recently served as senior general merchandise manager for the men’s, children’s, footwear, handbag and intimate apparel divisions. Shares were not yet active in premarket trade, but are up 45% in the year so far, while the S&P 500 has lost 5.6%.
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