Tuesday April 09, 2013

Ex-Apple Exec Dumped By JC Penney

After less than a year and a half, JC Penney has ousted its new CEO and hired back his predecessor. Ouch.

When Ron Johnson took over as CEO of JCPenney a little more than a year ago, he promised sweeping changes. A new image, an end to sales, everyday low prices, iPad-toting staffers, Genius Bar-like customer service. He tried all that, but the retailer still couldn’t shake its reputation as the place your mom dragged you to buy clothes you hated in 1984, and now Ron Johnson, he’s gone.