Ron Johnson to take control of JC Penney on February 1st
updated 12:55 pm EDT, Mon June 20, 2011
Three month delay being official and real control
Ron Johnson, Apple's outgoing retail head, will only be assuming full duties as JC Penney CEO on February 1st, a report says. Johnson is officially slated to take the CEO title on November 1st, but in explanation JC Penney states that he will initially handle only marketing and merchandising. The plan is for a three-month transition, with Johnson's predecessor -- Myron Ullman III -- serving as executive chairman.
Johnson's move may be healthy for JC Penney but a potentially significant setback for Apple. Apple Stores were born during the executive's tenure, and now number in the hundreds with a reach spanning several countries. Retail service is often credited with growing Apple profits, particularly as the stores increase exposure to the products and help with issues like switching from Windows to Mac OS.
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Joined: Jan 2010
Good move for Johnson
He's already rich, he could retire if he wanted to, but instead he'll become CEO of a relatively well-known retailer. If he stayed at Apple, he could make more money but he'd never become CEO.