JCPenney Ousts Apple's Former Retail Chief Ron Johnson

JCPenney has replaced Ron Johnson as CEO just more than one year after he joined from Apple, the company revealed in a statement late Monday. Johnson helped spearhead the strategy for Apple's massively successful retail operation and tried to apply some of that magic to JCPenney. He attempted to refresh the JCPenney shopping experience by getting rid of the retailer's coupon program, but ended up frustrating customers instead. JCPenney's sales and share price plummeted under his leadership, prom...