Brand New Pennies

Retail veteran Ken Hicks has joined J.C. Penney Corp. (Plano, Texas), in the newly created position of president and coo of stores and merchandise operations, effective July 15. Hicks will report to Vanessa Castagna, who has been named chairwoman and ceo of the company's store, catalog and Internet divisions. Castagna will continue reporting to chairman and ceo Allen Questrom.

Hicks has more than 20 years of experience in executive retail management and strategic planning, including leadership positions at McKinsey and Co. Consultants. From 1999 to 2002, he was president of Payless Shoe Source Inc. He has also held senior merchandise positions for the Home Shopping Network and May Department Stores. At JCPenney, Hicks'responsibilities will include stores, planning and allocation, supply chain management, store environment and coordination for stores, catalog and Internet.

“Ken's tremendous background will be a great help as we continue our evolution to create exciting, well-run stores that deliver best-in-class customer service,” says Questrom.

Castagna joined J.C. Penney in 1999 from Wal-Mart Stores Inc. “This new title appropriately recognizes her scope of leadership, and is consistent with retail organizational practice,” says Questrom.

J.C. Penney runs 1074 stores in the United States, Mexico, Puerto Rico and Brazil. The company also owns about 2,600 Eckerd drug stores.