JCPenney (JCP) brought CEO Ron Johnson in to replace longstanding CEO Myron Ullman in order to make some changes in merchandising and overall retail store appearance (having been a former Apple exec). Johnson made changes; however, customers began to notice other things that turned them away from the JCP brand, such as the dismissal of coupons and disappearance of JCP go-to clothing lines. Loyal shoppers began to voice their concerns, and after a period of time, many became furious.
In early April, after the flow of negativity reached a max, and JCP failed to respond to customers, Johnson was released from his position as CEO. While most brands would stop there, maybe just issuing a press release to announce the change had been made, JCP took it a step further. Read the rest of this entry »