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Oct. 25, 2021, 6:08 p.m. EDT

Former Levi Strauss executive named JCPenney's CEO

Simon Property Group Inc. (NYS:SPG) and other owners said late Monday that Marc Rosen has been appointed chief executive officer of its department-store chain JCPenney, effective Nov. 1. Stanley Shashoua, Simon's chief investment officer, has been appointed as executive chairman of the board of directors after serving as interim CEO of JCPenney since January, the owners said. Rosen brings more than 25 years of retail and e-commerce experience to the role, most recently serving as executive vice president and president of Levi Strauss Americas at Levi Strauss & Co. (NYS:LEVI) , according to a statement. "Marc joins JCPenney following a year of focused work to stabilize the business, improve financials, and position the retailer for long-term success," Shashoua said in a statement. Simon and other JCPenney owners ousted CEO Jill Soltau in December.

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