J.C. Penney says Engibous will be chairman as Ullman steps down

J.C. Penney Co. said Thomas J. Engibous will become chairman on Jan. 28 after former Chief Executive Officer Myron Ullman steps down from the post.

Engibous was named to the retailer’s board in 1999 and since 2008 has served in roles including presiding director and lead independent director, the Plano, Texas-based company said today in a statement.

Ron Johnson, who took over as CEO in November after running Apple Inc.’s retail operations, has been reshaping management as he works to turn around the department-store chain, which in the third quarter posted its first quarterly loss in two years. Last year, he hired former Apple executives as chief operating officer and chief talent officer.

J.C. Penney fell 1.1 percent to $34.57 yesterday in New York. The shares rose 8.8 percent in 2011.