JCPenney 2006 Annual Report Download - page 22

Myron E. (Mike) Ullman, III
Chairman of the Board and
Chief Executive Officer
Ken C. Hicks
President and
Chief Merchandising Officer
Jeffrey J. Allison
Executive Vice President,
General Merchandise Manager,
Home and Custom Decorating
Joanne L. Bober
Executive Vice President,
General Counsel and Secretary
Michael J. Boylson
Executive Vice President,
Chief Marketing Officer
Lana Cain
Executive Vice President,
General Merchandise Manager,
Men’s and Children’s
Robert B. Cavanaugh
Executive Vice President and
Chief Financial Officer
Thomas A. Clerkin
Senior Vice President,
Director of Finance for
Stores, Catalog and Internet
Michael P. Dastugue
Senior Vice President,
Director of Property Development
Bernard D. Feiwus
Senior Vice President,
Chief Operating Officer of
JCP Direct
John W. Irvin
Executive Vice President,
President of JCP Direct
Clarence L. Kelley
Executive Vice President,
Director of Planning and Allocation
James W. LaBounty
Senior Vice President,
Director of Supply Chain Management
Peter M. McGrath
Executive Vice President,
Director of Product Development
and Sourcing
Thomas M. Nealon
Executive Vice President and
Chief Information Officer
Beryl Raff
Executive Vice President,
General Merchandise Manager,
Fine Jewelry
Elizabeth H. Sweney
Executive Vice President,
General Merchandise Manager,
Women’s Apparel
Michael W. Taxter
Executive Vice President,
Director of JCPenney Stores
Michael T. Theilmann
Executive Vice President,
Chief Human Resources and
Administration Officer
1. Member of the Audit Committee.
This committee:
■ selects and retains the independent auditors for the annual audit of JCPenney's
consolidated financial statements
■ approves audit fees and non-audit services and fees of the independent auditors
■ reviews the independent auditors' audit strategy and plan, scope, audit results, performance,
and independence
■ participates in the certification process for periodic reports filed pursuant to the
Securities Exchange Act of 1934
■ reviews internal audit reports on the adequacy of internal controls
■ reviews the status of significant legal matters, the Company's ethics program,
and the scope of the internal auditors' plans and budget, and results of their audits
■ reviews the effectiveness of the Company's program for correcting audit findings.
2. Member of the Corporate Governance Committee.
This committee:
■ considers matters of corporate governance and reviews developments in the governance
area as they affect relations between the Company and its stockholders
■ develops and recommends to the Board corporate governance principles and
practices for the Company
2. (cont’d)
■ makes recommendations to the Board on the size, composition, organization, responsibilities,
and functions of the Board and its Directors
■ makes recommendations to the Board with respect to the qualifications of Directors, candidates
for election as Directors, and the compensation of Directors
■ makes recommendations to the Board regarding annual independence determinations and the
annual performance self-assessment by the Board.
3. Member of the Human Resources and Compensation Committee.
This committee:
■ reviews and administers the Company's annual and long-term incentive compensation plans
■ recommends or takes action with respect to senior executive officer compensation
■ performs periodic reviews of succession plans for key Company executives, including the CEO
■ reviews the annual financial condition and investment performance of the Company's
retirement and welfare plans, including the annual actuarial valuation reports for the plans
■ oversees the administration and operation of certain Company retirement and welfare plans.
4. Member of the Finance Committee.
This committee:
■ reviews the Company's financial policies, strategies, and capital structure.
Myron E. (Mike) Ullman, III
Chairman of the Board and
Chief Executive Officer
Colleen C. Barrett 2, 3
President,
Southwest Airlines Co.
M. Anthony Burns 1, 3, 4
Chairman Emeritus,
Ryder System, Inc.
Maxine K. Clark 2, 3
Founder and Chief Executive Officer,
Build-A-Bear Workshop, Inc.
Thomas J. Engibous 1, 4
Chairman of the Board,
Texas Instruments Incorporated
Kent B. Foster 1, 4
Chairman of the Board,
Ingram Micro Inc.
Vernon E. Jordan, Jr. 2
Senior Managing Director,
Lazard Freres & Co., LLC;
Of Counsel, Akin, Gump, Strauss,
Hauer & Feld, LLP
Burl Osborne 2, 3
Publisher Emeritus,
The Dallas Morning News;
Chairman of the Board,
The Associated Press
Leonard H. Roberts 1, 4
Retired Chairman and
Chief Executive Officer,
RadioShack Corporation
Ann Marie Tallman 2
Founder and Partner,
Tallman Homes, LLC
R. Gerald Turner 2, 3
President,
Southern Methodist University
Mary Beth West 1, 4
Group Vice President
and President, Kraft Foods
North American
Beverage Sector
THE BOARD
OF DIRECTORS
(numbers relate to Board Committee assignments described below)
EXECUTIVE
BOARD
page twenty-two l J. C. Penney Company, Inc. l Annual Report 2006
The National Portrait Gallery, 2007
JCPenney would like to thank
retiring Director, Vernon E. Jordan, Jr.,
for 34 years of commitment and service.
Mr. Jordan's counsel and dedication played
an instrumental role over the years, including
the successful completion of our turnaround
and current growth strategies.