RETAILING

J.C. Penney Names New CEO and President: The company named James Oesterreicher chief executive and vice chairman, while W. Barger Tygart will become president and chief operating officer, effective Jan. 1. The company said the appointments were made as part of changes to prepare for the retirement of current Chairman and CEO W.R. Howell, which is expected within the next few years. Oesterreicher currently heads the company’s store and catalogue operations, while Tygart directs merchandising and support. In January, 1996, Howell will be 60, the company’s normal retirement age. “However, there’s no indication whatsoever that he will choose to retire on that date. He has not announced his retirement,” spokesman Hank Rusman said.