Retailer J.C. Penney is on the hunt for a new chief marketing officer following the resignation of Stephen Farley, who will leave on November 30.

During the interim period before the new appointment, director of marketing, planning and promotions Mike Boylson will oversee the company’s $200 million ad budget.

However, the company insisted that the change would not affect the position of DDB Worldwide, which has handled Penney’s account since April, even though ceo Allan Questrom recently promised investors “major corrective changes” in the company's marketing for 2001.

News source: Advertising Age - Daily Deadline