Josh.vasquez

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09 Apr 07:11

J.C. Penney board comes under fire for CEO switch

Josh.vasquez

JCP tried switching to an always low prices model and actually had some very decent brands of clothing available. Going back to the sale/coupon route just seems backwards to me, but I guess we'll see what they decide to do.

(Reuters) - The board of J.C. Penney Co Inc is facing scathing criticism from investors and corporate governance experts after ousting Chief Executive Ron Johnson and replacing him with his own embattled predecessor, Myron Ullman.