14 DAY TRIAL // Ron Johnson, Apple’s retail chief has left the Cupertino company to become the CEO of JC Penney, a chain of American mid-range department stores that operates 1,107 outlets in all 50 U.S. states and Puerto Rico.
Johnson joined Apple as senior vice president in January 2000, according to his bio on Apple.com.
Johnson led Apple's retail strategy and was responsible for its overall execution and performance reporting directly to CEO Steve Jobs.
Under his leadership, Apple has opened over 300 stores to date.
Johnson held various management positions at billion-dollar companies, such as Target, and has over 20 years of experience in retail and merchandising.
Via Business Insider now comes word that Apple's SVP of Retail has left to become president of JC Penney.
An Apple spokesperson confirms his departure via this statement:
“Ron is excited about this opportunity and we hope it goes well for him. We’ve got a great retail team in place and are actively recruiting for his replacement.”
The Cupertino tech giant is yet to issue a formal announcement on Johnson’s leave.
JC Penney also confirms the move, saying that Johnson has committed to make a personal investment of $50 million in the company through the purchase of seven 1/2-year warrants on 7.257 million shares of J. C. Penney stock.
Johnson himself explains why he left Apple:
"I've always dreamed of leading a major retail company as CEO, and I am thrilled to have the opportunity to help J. C. Penney re-imagine what I believe to be the single greatest opportunity in American retailing today, the Department Store,” Mr. Johnson said.
“I have tremendous confidence in J. C. Penney's future and look forward to working with Mike Ullman, the Executive Board and the Company's 150,000 associates to transform the way America shops."