Bio Box: Penney CEO Mike Ullman

AP News
Posted: Nov 19, 2009 1:38 PM

NAME: Myron E. Ullman III, known as Mike

OCCUPATION: Chairman and CEO, J.C. Penney Co.

AGE: 62. Born Nov. 26, 1946

HOME: Dallas, Texas, and Montrose, Calif.

FAMILY: Married to Cathy. Six children, four grandchildren (a fifth on the way)

EDUCATION: B.S. in Industrial Management in 1969 from the University of Cincinnati and an Honorary Doctorate from the same school in 2006.

WORK HISTORY: Started career in 1969 at IBM Corp., became an international account manager. In 1976, joined University of Cincinnati as vice president of business affairs. In June 1981, appointed a White House Fellow by President Ronald Reagan. From 1982-1986, executive vice president of Federated Department Stores division in Dallas. From 1986-1989, group managing director of Wharf Holdings Ltd. in Hong Kong. From 1992-1995: chairman, CEO of R. H. Macy & Co. From 1995-1999: chairman, CEO of travel retailer DFS Group Ltd., majority-owned by LVMH Moet Hennessy Louis Vuitton. From 1999-2002: group managing director, LVMH. December 2004: Became Chairman, CEO of J.C. Penney.

OTHER PROFESSIONAL: Now a director of Starbucks Coffee Co., a director of Dallas Federal Reserve Bank and chairman of National Retail Federation.

CHARITY: Director, former chairman, UCSF Medical Center Executive Board in San Francisco; current chairman, Mercy Ships International, a global medical and human services charity.

QUOTE: You have to be countercyclical. You have to be forward-looking when times are tough. You have to articulate why we want to go there and why we need to make the tough decisions. ... I don't look at (the recession) as a major trauma. I looked at it as an opportunity.

JUST FOR FUN: Golf and fantasy football