Johnson Out, Ullman Back as J.C. Penney CEO
April 9, 2013,
Myron Ullman III
PLANO, Texas-Ron Johnson has left J.C. Penney, and the retailer has brought back Myron Ullman III, the former chairman and CEO, to succeed him.
Johnson took the CEO post in November 2011 and launched an overhaul of J.C. Penney intended to transform it from a promotional department store to a specialty department store. Central to this effort was the reformatting of the stores featuring branded shops, along with reconfiguring J.C. Penney's pricing around fewer promotions.
Ullman had been chairman and CEO of the department-store retailer from 2004 until Johnson succeeded him. He then served as executive chairman until January 2012. In his new role, Ullman has also been elected to the J.C. Penney board.