J.C. Penney has a new CEO today, and they’ve poached him from Apple Inc.. Ron Johnson, the man responsible for Apple’s retail experience, will now be occupying the CEO position at J.C. Penney.
Think about that for a second, J.C. Penney could become cool again. Okay, probably not. But, It seems like Ron Johnson is putting his money where his mouth is today, according to the J.C. Penney press release he has commtited to making a personal investment of $50 million in the Copmany “through the purchase, at fair market value, of 7 1/3-year warrents on 7.257 million shares of J.C. Penney Company stock.”
If that’s not telling the world that Johnson thinks he can turn J.C. Penney around, and increase their worth, then I don’t know what would.
Clearly Ron Johnson is confident in his abilities. Good luck at J.C. Penney Mr. Johnson, and thanks for the Apple Store experience, some of us wouldn’t be here if it wasn’t for that.
It’s been said that Apple is actively looking to replace Johnson as Senior Vice President of Retail Operations, but other than that, they have no comment on the matter.