The resignation is effective immediately. Ullman says he tookthe step to avoid any appearance of conflict of interest, sayinghis new position would impair his ability to qualify as anindependent director of Taubman Centers. Ullman joined the TaubmanCenters board in April 2003. He was a member of the audit committeeand chairman of the compensation committee.
"Mike has been an exemplary board member," says Robert S.Taubman, chairman, president and chief executive officer of TaubmanCenters. "While we are sorry to see him leave, we look forward tocontinuing to work with him in his new capacity at JCPenney."
Bloomfield Hills-based Taubman Centers, Inc., owns or operatesabout 60 shopping malls across the country.
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