Ron Johnson, CEO JC Penney
I’m posting this at the risk of being the David Goldstein to a JC Penney turnaround in retail.
I’ll take my chances.
I don’t think it’s stupid for Ron Johnson to leave Apple. I think joining JCP is. Johnson can be credited with Apple’s retail success insofar as he holds/held the title tethered to the responsibility for it. I believe the level of success is as much timing as anything. You can distribute the best message about the best products to everyone but if they’re not ready to accept the message, you don’t succeed.
Apple got to pick and choose their retail locations which is a large part of their legacy. JCP is physically and mentally associated with low-cost, low-end, low-price. Maybe they’ll shutter some stores. Maybe they’ll open some new ones. JC Penney inside Grand Central? All-glass JCP stores?
I understand the desire to run an iconic brand from the top floor, but at what cost? Investing $50M of your own money shows commitment, but it doesn’t necessarily reflect wisdom.
As always, time will tell.
