J.C. Penney Gives CEO Ron Johnson the Boot
After a failed company turn around, J.C. Penney decided on Monday to get rid of CEO Ron Johnson.
Johnson, only a year and a half into his proposed plan to turn the department store around, was ousted and replaced by the man he replaced, Myron E. Ullman III. Johnson arrived in late 2011, and before that he had been in charge of the retail division at Apple.
Johnson’s plan was to take away sale prices, and just always give people a deal. According to Yahoo, people didn’t take to the concept and instead preferred knowing the regular prices, and seeing the sale price.