J.C. Penney CEO Ellison jumps ship to Lowe's; shares sink
May 22, 2018 at 12:44 PM EDT
(Reuters) - J.C. Penney's Chief Executive Officer Marvin Ellison is leaving the struggling retailer to join home improvement chain Lowe's Cos Inc , the companies said on Tuesday, sending shares in the U.S. department store chain down as much as 8 percent to an all-time low.