Ron Johnson, the man who shocked retailers from building the Apple Store from the ground up, has been fired from his position as CEO of ailing department store J. C. Penney. Johnson had been working to reinvent the chain and its 1,100 locations since late 2011 after leaving his position at Apple.
However, under Johnson, J. C. Penney has been losing money each quarter with a 27 percent drop in revenue, a total of $13 billion, and 50 percent drop in the company’s stock price since Johnson joined the company. He will be replaced by J. C. Penney’s former CEO Mike Ullman.
Pundits are wondering if the man is willing to return to Apple since his old position has been vacant for six months. His replacement, John Browett, was fired after only nine months on the job. Steve Jobs himself was famously upset about Johnson’s departure, calling J. C. Penney “a B- or C company with B- people.”
Even with the position empty though, Apple’s retail markets have been able to double profits from $2.3 billion to $4.93 billion over the two years of Johnson’s absence.
Johnson held his job at Apple for more than 10 years and knows the ins-and-outs of the company better than most other candidates out there. He could very well be a decent fit to fill in the empty chair, and he might not have many other options after his high profile failure at J. C. Penney.