JCPenney to welcome Jeffrey Rein

07 Oct '08

3 min read

J. C. Penney Company Inc announced that Jeffrey A. Rein, chairman and chief executive officer of Walgreen Co., the nation's largest retail pharmacy chain, will join the Company's Board of Directors, effective Dec. 9, 2008.

Myron E. (Mike) Ullman, III, chairman and chief executive officer, said, "Jeff is a highly respected leader and a strong addition to our Company's Board of Directors. His 27 years of solid experience in developing and executing growth strategies at Walgreens has made it a recognized leader in innovative drugstore retailing and the top choice for customers.

We look forward to Jeff's contributions to our Board as we focus on gaining market share within the current environment and executing our long-term plans for growth leadership in the retail industry."

Mr. Rein added, "Walgreens and JCPenney's core principles are strongly aligned. JCPenney has achieved notable success in recent years by implementing new and exciting strategies to build deep connections with its customers and associates. I look forward to working with the Board to build on JCPenney's growth and success over the long term."

Mr. Rein, 56, has been with Walgreens for 27 years. He joined the company as an assistant manager in 1982, was promoted to store manager in 1984, district manager in 1990, divisional vice president and treasurer in 1996 and vice president of marketing systems and services in 2000.

Rein was appointed executive vice president of marketing in 2001 and promoted to president and chief operating officer in 2003. In 2006, he became chief executive officer and was named chairman in 2007. Rein received his B.S. degree in accounting in 1974 and a B.S. in pharmacy in 1980, both from the University of Arizona in Tucson.

In addition to Mr. Rein, JCPenney's Board of Directors includes Mr. Ullman; Colleen C. Barrett, president emeritus of Southwest Airlines Co.; M. Anthony Burns, chairman emeritus of Ryder System, Inc.; Maxine K. Clark, founder, chairman and CEO of Build-A-Bear Workshop Inc; Thomas J. Engibous, retired chairman of Texas Instruments Incorporated; Kent B. Foster, retired chairman of Ingram Micro Inc.; Ken C. Hicks, president and chief merchandising officer of J. C. Penney Company Inc; Burl Osborne, retired chairman of The Associated Press; Leonard H. Roberts, retired chairman and CEO of RadioShack Corporation; Javier G. Teruel, retired vice chairman of Colgate-Palmolive Company and partner, Spectron Desarrollo, SC; R. Gerald Turner, president of Southern Methodist University; and Mary Beth West, executive vice president and chief marketing officer of Kraft Foods Inc.

J. C. Penney Company Inc

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