In its second-largest acquisition, Amazon buys the company for $970 million.
Thomas Nealon will leave the retailer to care for a sick relative.
Thomas Nealon, the executive in charge of JCP.com, will leave J.C. Penney Co. Inc. on Dec. 1 to tend to a seriously ill relative, the retail chain said this week. J.C. Penney is No. 20 in the Internet Retailer Top 500 Guide.
Nealon was promoted to his current position as group executive vice president in August 2010. His job also includes oversight of the retailer’s information technology, corporate strategy, customer insights and digital ventures efforts. He was the multichannel retailer’s chief information officer, a job he had held since 2006.
“Tom is one of the truly outstanding people I have met during my short tenure at J. C. Penney,” says CEO Ron Johnson, who was hired in June. “He has added tremendous value to our company by putting in place a state-of-the-art technology infrastructure, which will serve as a strong foundation for our future growth plans. His vision and leadership will be missed."
The retailer has not named a replacement for Nealon.