Ron Johnson, J.C. Penney's chief executive and former Apple retail chief, is out at the clothing retail giant, CNBC reports.
Johnson joined J.C. Penney in November 2011, after spending more than a decade at Apple, building and growing its retail empire.
That success did not equate at Penney's, where Johnson attempted to run the more than 1,100-store company as what he referred to as "a startup." That initially included getting rid of sales events, in place of fixed pricing. Johnson also tried to add high-tech features to the store, like free Wi-Fi and … Read more