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Michael Theilmann to Leave J.C. Penney

Johnson and Kramer assume executive's oversight of stores, property management and supply chain.

Michael Theilmann, group executive vice president of J.C. Penney Co. Inc., is leaving the retailer and his position will be eliminated.

Theilmann, who officially departs Jan. 27, was responsible for the company’s stores, property management and supply chain.

Chief executive officer Ron Johnson will now oversee the company’s stores as chief operating officer Michael Kramer takes on property management and supply chain. Theilmann joined J.C. Penney in 2005 and previously served as executive vice president and chief human resources and administration officer.