J.C. Penney Co. hired MEMC Electronic Materials Inc.'s Ken Hannah as chief financial officer as Chief Executive Officer Ron Johnson replaces top managers at the fourth-biggest U.S. department store chain.

Hannah, 43, was most recently president of solar energy at MEMC and previously served as the company's CFO, Plano, Texas-based J.C. Penney said in a statement. Hannah was also senior vice president of finance at Home Depot Inc., the company said. Former CFO Michael Dastugue left last month after more than 20 years at J.C. Penney.

Johnson, who took over in November after leading Apple Inc.'s retail business, has installed new management at J.C. Penney as he works to remake the retailer. Thomas Engibous became the company's new chairman on Jan. 28 and Johnson has refreshed almost all executive roles, mostly with former Apple employees.

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