“Firing JCPenney CEO Ron Johnson amid poor sales results would be an irresponsible move by its board, Brian McGough of Hedgeye Management said Thursday on CNBC,” Bruno J. Navarro reports for CNBC. “‘Who am I to go against Allen Questrom, right? He’s the godfather of retail,’ he said. ‘But I think the fact of the matter is if this board wants to declare Chapter 11, I think probably the fastest route to get there is to fire Ron Johnson.'”

“McGough’s comments came a day after former JCPenney CEO Allen Questrom criticized the company’s board of directors and chief executive,” Navarro reports. “‘The board has to take action. They can’t be delusional like Ron Johnson is,’ he said on CNBC. ‘This has been going on long enough. You can’t say you’re going to make your numbers for the year and then drop a billion dollars.'”

Navarro reports, “McGough said that he believed the board must have expected ‘a sales disruption’ along with changes, as well as lower revenues, at least temporarily. ‘I think if the board were going to come out and if they were going get rid of him now based on what he did in Year One, then it would be a pretty irresponsible move by the board, and they should probably put their own resignation in as well,’ he added.”

Read more in the full article here.

MacDailyNews Take: Pain.

[Thanks to MacDailyNews Readers “Lynn Weiler” for the heads up.]

Related articles:
J.C. Penney CEO Ron Johnson cuts 2,200 more jobs as sales plunge – March 8, 2013
J.C. Penney posts large loss as sales sink further – February 27, 2013
JC Penney CEO Ron Johnson capitulates, brings back sales – January 28, 2013
Apple retail’s Ron Johnson and John Browett have proved the Peter Principle is alive and well – November 13, 2012
CEO Ron Johnson switches J.C. Penney to two-tier pricing with price-match guarantee – July 26, 2012
Why is Ron Johnson’s retail strategy for J.C. Penney failing? – June 26, 2012
J.C Penney’s stock tumbles after key exec’s abrupt exit – June 19, 2012
J.C. Penney reports loss and plummeting sales in 1Q – May 15, 2012
Why Ron Johnson left Apple to head JC Penney – April 30, 2012
J.C. Penney lures another executive from Apple – April 26, 2012
Steve Jobs’ ex-lieutenant Ron Johnson adds $1.5 billion to J.C. Penney in two days – January 30, 2012
J.C. Penney CEO Ron Johnson: What I learned building the Apple Store – November 21, 2011
New J.C. Penney CEO Johnson hiring former Apple co-workers – November 9, 2011
Why Apple’s retail genius Ron Johnson is paying for the privilege of running J.C. Penney – June 15, 2011
Apple’s retail store chief Johnson off to J.C. Penney; expected to become CEO within months – June 14, 2011