Apple's Retail VP To Be New J.C. Penny CEO

Joshua Schnell writing for Macgasm:

J.C. Penney has a new CEO today, and they’ve poached him from Apple Inc.. Ron Johnson, the man responsible for Apple’s retail experience, will now be occupying the CEO position at J.C. Penney. Think about that for a second, J.C. Penney could become cool again. Okay, probably not. But, It seems like Ron Johnson is putting his money where his mouth is today, according to the J.C. Penney press release he has committed to making a personal investment of $50 million in the Company “through the purchase, at fair market value, of 7 1/3-year warrants on 7.257 million shares of J.C. Penney Company stock.” Putting his money where his mouth is. If he can do for JC Penny what he did for Apple, this is a huge gain for J.C. Penny.