JC Penney CEO Ron Johnson is out, a source familiar with the situation said. Mike Ullman will rejoin the company as CEO.
(Via The Next Web.)
Personally, I agree with Matthew Panzarino, he deserved more time. You don’t turn around a crappy aircraft carrier full of chinos, Christmas sweaters and cheap curtains in two years. I liked what he was trying. It made me consider going into a JC Penney again.
Still, I do feel partly responsible. I touched Johnson on the arm at Macworld Expo once. Just one touch, but… kiss of death, apparently. If only we knew someone who needed a Senior Vice President of Retail. OH, WELL.