JC Penney chief merchandising officer Ken Hicks leaves for Foot Locker

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Ken C. Hicks is leaving his position as president and chief merchandising officer at JC Penney Co. Inc. to become president and CEO at specialty retailer Foot Locker Inc.

JC Penney said Hicks, who has held his position there since 2005, will serve his last day on July 6. Myron E. Ullman, III, chairman and CEO, will assume Hicks' responsibilities while an executive search is being conducted. Hicks will also resign his position on the JC Penney board of directors.

At Foot Locker, Hicks will succeed Matthew Serra, who has been Foot Locker's CEO since 2001 and chairman of the board since 2004. Serra will continue as chairman of the board until his planned retirement on January 30. Hicks first day will be August 17.

From 2002 to 2004, Hicks was JC Penney's president and COO of stores and merchandise operations. Prior to joining JC Penney, he was president of Payless ShoeSource Inc.

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