NEW YORK — There was a shakeup in the stock market Wednesday, but J.C. Penney Co. Inc. doesn’t expect a shakeup in its corner office any time soon.

Rumors that chairman and chief executive Allen Questrom might be leaving his post soon helped drive the firm’s shares down 8.8 percent, or $1.55, to $16. Penney’s released a statement in which Questrom asserted: "I am very pleased with the progress the company has made to date, and look forward to completing J.C. Penney’s five-year turnaround strategies." His statements were drawn from meetings with analysts on Sept. 25.

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