Dive Brief:
- J.C. Penney has announced it will appoint outgoing Saks CEO Stephen Sadove to its board of directors.
- Sandove will begin his tenure when the buyout of Saks by Hudson’s Bay Co. is finalized.
- Some industry experts believe Sandove could be a potential successor to J.C. Penney CEO Myron Ullman.
Dive Insight:
Sandove currently serves as chairman of the National Retail Federation and has expertise with a customer base that is similar to J.C. Penney. Sandove is now the second new executive to join J.C. Penney’s board since the reinstatement of Myron Ullman.
