Report: former Walgreen CEO not joining J.C. Penney board

CHICAGO The Reuters news service reported Friday that former Walgreens chairman and chief executive officer Jeff Rein has withdrawn his acceptance of a board position with J.C. Penney.

Rein cited his recent retirement from Walgreens for his decision not to serve on Penney’s board, according to the report, but said he remains interested in corporate board service.