UPDATE 1-J.C. Penney lures another executive from Apple
April 26 (Reuters) - J.C. Penney Co Inc said on Thursday it has hired the man who led the design team behind Apple Inc's sleek, well regarded outlets, the latest executive the U.S. department store chain has lured from the maker of the iPad and iPhone.
Benjamin Fay, 40, will be Penney's executive vice president for real estate, store design and development and his duties will include overseeing the remodeling of the chain's stores.
Last month, Penney hired Mike Fisher from Apple as senior vice president of visual presentation for the stores.
Fay will report to Chief Executive Ron Johnson, who left Apple last year to take Penney's reins.
J.C. Penney has largely done away with sales in favor of regular, lower prices. Beginning in August, the retailer is due to start work on revamps that will carve its department stores into 100 small boutiques.
We are living longer but not creating financial plans to keep pace. Advisers give tips on how to make sure you don’t outlive your money. Video