OPERATIONS

Liz Claiborne CFO moves to Discovery Communications

BY Katherine Boccaccio

New York City — Discovery Communications said Tuesday that Liz Claiborne Inc. CFO Andrew Warren is joining the company as finance chief.

Warren will succeed Brad Singer, who said last year he would depart Discovery at the end of March.

Liz Claiborne recently disclosed that Warren was leaving the company, saying he was pursuing an opportunity "in the media industry."

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News

New chairman named at JCPenney

BY CSA STAFF

PLANO, Texas — JCPenney announced that Thomas Engibous will become chairman of its board of directors on Jan. 28. Engibous was named to the board in 1999 and has served in presiding director and lead independent director roles since 2008. He will assume the chairman’s role from Myron Ullman, III, JCPenney’s former chief executive officer, who will step down as executive chairman.

Ron Johnson, chief executive officer of JCPenney, said, "Tom is deeply committed to the success of the company, shares our vision for the future and has been invaluable to me in my early days leading JCP. His guidance will continue to be of great help as we build JCpenney into America’s favorite store."

Engibous said, "Important work is underway at JCPenney to transform the company by delivering a new level of innovation, creativity and excitement to customers. I look forward to working closely with Ron, management and the Board to help ensure the success of the company’s plans and drive shareholder value."

Engibous is the retired chairman of Texas Instruments Incorporated (TI), one of the world’s leading electronics companies. He served as its president and CEO from 1996 through 2004, having joined TI in 1976. In addition to JCPenney, Engibous is a director of Taiwan Semiconductor Manufacturing Company Limited.

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REAL ESTATE

DSW to accelerate 2012 store openings to 35-40

BY Katherine Boccaccio

Columbus, Ohio — DSW Inc. said Tuesday it will open between 35 and 40 stores in 2012, up from an initial plan of 15 to 20 new stores this year.

The footwear and accessories retailer also raised its annual earnings guidance.

“The expansion of our footprint into new and existing markets is a key growth initiative for us,” said Mike MacDonald, president and CEO, DSW Inc.

The majority of the new stores are slated to open in the second half of 2012, according to the company.

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