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Out with the new and in with the old

When Bill Ackman hand selected Ron Johnson as the new C.E.O. of JCPenney (previously) people took notice. However, after dismal fourth-quarter results, Bill Ackman had strong criticisms for Johnson, calling his tenure "very close to a disaster." Last night, JCP announced that Ron Johnson has been replaced by ex-CEO Myron Ullman.
posted by Arbac on Apr 9, 2013 - 124 comments

“Lots of people think we’re crazy. But that’s what it takes to get ahead.”

Ron Johnson, who was responsible for Target and Apple's wildly successful retail chains, is now trying to reinvent the department store from the ground up as J. C. Penney's new CEO: divid[ing] stores into 100 shops that [...] will each be like its own small store. Surrounding the shops will be wide aisles that Johnson calls 'streets.' Along those pathways will be ice cream and coffee bars and wood tables with built-in iPad tablet computers that shoppers can use to surf online. But after quarter after quarter of heavy loss, some analysts think Johnson is destroying J. C. Penney. But they've predicted his failure before. More on Johnson's work with the Apple Store. Johnson himself on what he learned building the Apple Store.
posted by Rory Marinich on Nov 28, 2012 - 65 comments

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