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On the inside track at Penney, Castagna appears to be the front-runner in a low-key search
The Dallas Morning News
October 4, 2004 Monday
SECOND EDITION
SECTION: BUSINESS; Pg. 1D
LENGTH: 592 words
BYLINE: MARIA HALKIAS, Staff Writer

Surprisingly few names have surfaced in the search for a successor to Allen Questrom at J.C. Penney Co. - one of the biggest job openings in retail today.

Mr. Questrom said in April that he wouldn't stay on as chairman and chief executive after his contract expires in September 2005. Penney's board formed a search committee and hired executive search specialists months ago.

Industry chatter usually starts as soon as a high-profile vacancy is announced. But that hasn't been the case with the Plano company.

Industry insiders think it's because of the widespread belief that top internal candidate Vanessa Castagna will get the job.

The only other name mentioned repeatedly in retail circles has been Howard Socol, chairman and chief executive of Barneys New York, coincidentally the operation that Mr. Questrom left when he joined Penney.

Mr. Socol is also highly regarded, and Barneys is for sale, which means he may be in the market for a new job soon.

Penney officials wouldn't name candidates other than Ms. Castagna, chief executive of J.C. Penney stores, catalog and Internet. Mr. Socol couldn't be reached for comment Friday.

Hal Reiter , chief executive of Herbert Mines Associates, a leading executive search firm for the retail industry, said he has a theory that any search with a strong inside candidate "starts out flawed."

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