“After the market closed J.C. Penney announced that Ron Johnson, the company’s CEO, was being replaced with Mike Ullman, the man that Johnson had replaced,” Chuck Jones writes for Forbes.
“Obviously J.C. Penney’s Board was not willing to wait to see if the company could at least stabilize and then grow. The slide in business shortened Johnson’s three to five year turnaround timeframe to eighteen months,” Jones writes. “This does free up Johnson to pursue other paths with one of them re-joining Apple in some capacity. However, Johnson may decide to take some time off and reevaluate what he wants to do next. I would not expect a quick announcement.”
Jones writes, “The scenario that I believe is most likely to not happen is to run the Retail operations again. Going back to a ‘been there done that’ role would be extremely unusual (except as a CEO, think of Jobs and now Ullman at J.C. Penney). Unless Johnson believes that the Retail group has gotten too far off-track and they need his presence to right the ship if he comes back it will probably be to join the Board or as a consultant.”
Read more in the full article here.
MacDailyNews Take: Ron should take some time off and then rejoin Apple next spring on the third Sunday of Lent.
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CEO Ron Johnson switches J.C. Penney to two-tier pricing with price-match guarantee – July 26, 2012
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