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Actionable news in JCP: J.C. PENNEY COMPANY Inc,

From $4.35 per hour to JC Penney CEO

Marvin Ellison's roots in retail are far humbler than the confidence placed in his current C-suite title.

The 51-year-old Ellison, who became CEO of J.C. Penney in August, started his career as a part-time associate at Target, making just $4.35 an hour. Last year, he officially took the helm at Penney's, in hopes he could help the retailer recover billions of dollars lost during a failed turnaround strategy.

Former CEO Mike Ullman said his successor, who came from Home Depot, has a track record of improving operations, and has exactly what the company needs to continue its revitalization.

Though the company faces plenty...