Dive Brief:
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The Wall Street Journal has reported that Home Shopping Network CEO Mindy Grossman turned down the chance to lead J.C. Penney as CEO.
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Current CEO Myron "Mike" Ullman was brought on in 2013 to replace Ron Johnson at the behest of a major shareholder, when Johnson’s changes led to drastic drops in finances and sales.
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Discussions over Grossman’s potential appointment went far, but broke down, the Wall Street Journal reports.
Dive Insight:
Mike Ullman’s appointment in 2013 was supposed to be temporary, although he has pointedly said he is not an “interim CEO.” It’s becoming clear that his temporary appointment could last quite a while if the retailer can't find anyone to replace him.
Meanwhile, retailers Target, American Eagle Outfitters, Dollar General, and soon, possibly, Abercrombie & Fitch are also seeking new CEOs, making the retail CEO job market quite a competitive one.
