Ceo, J.c. Penney | featured news

After a troublesome, 17-month run, Ron Johnson is out as chief executive of J.C. Penney, and with that, the most closely watched revival effort in retail in recent memory is in danger of disintegrating.

J.C. Penney Co.’s transformation team started to unravel on Monday. Penney president Michael Francis was fired after only eight months as the No. 2 executive at the Plano-based department store chain. Francis’ abrupt departure appears to be another corrective step from CEO Ron Johnson, who recently acknowledged that Penney’s marketing message has confused shoppers.

J.C. Penney paid its new CEO, Ronald Johnson, $53.3 million in total compensation in 2011.

J.C. Penney Co. says Ron Johnson, who pioneered Apple Inc.'s retail stores, will become the department store's next CEO.