PLANO, Texas-J. C. Penney Company has made a series of senior leadership promotions in its finance, sourcing and technology organizations. Those promotions include Michael Dastugue to executive vice president and chief financial officer; Ken Mangone as executive vice president of product development, design and sourcing; and Ed Robben as senior vice president and chief information officer. All three are members of JCPenney's executive board.
Dastugue succeeds Robert Cavanaugh, who will be stepping down as CFO after 32 years with JCPenney. Cavanaugh will serve as an adviser to Myron E. Ullman, III, chairman and chief executive officer, providing counsel in support of JCPenney's long-term financial objectives, until his expected retirement in January 2012. Mangone succeeds Peter McGrath, who retired Dec. 31, 2010 after 37 years with JCPenney and who will continue to be a key contributor to JCPenney's Supplier Council. Dastugue and Mangone report to Ullman. Robben reports to Tom Nealon, group executive vice president, who is responsible for jcp.com, information technology, corporate strategy and JCPenney's digital ventures organization and previously held the CIO position.