Sidebar Sidebar
Become a MacRumors Supporter for $50/year with no ads, ability to filter front page stories, and private forums.

Apple Retail Chief Ron Johnson Departing to Lead J.C. Penney [Updated]

Hrm, going to a dieing legacy retail company with tons of competition in a economy that's looking like it's about to drive off a cliff... Yeah. Definitely a challenge.
 
Bad move

I don't think leaving Apple is stupid, but I think joining JCP is. The success of Apple's retail stores can be attributed to Johnson insofar as he was responsible for retail operations but the overall success is as much timing as anything.

I understand the desire to lead an iconic brand from the top seat, but JCP? It won't happen. Apple got to pick its retail locations whereas JCP is where it is: low-image retail. I'm sure they'll be shuttering some locations and opening new ones ... but the challenges, while they may look exciting, are quite large. QUITE large.
 
jonnysods said:
JC Penny is going to rock in a couple of years. 3 shirts, 2 socks, bare walls.
Click to expand...

No retail packaging.

You put the stuff on in the store. Environmentally friendly.

Before you go there you can upload your body and try on shirts , socks and underwear via DVD or download,.

It's all good.
 
roar08 said:
I don't think leaving Apple is stupid, but I think joining JCP is. The success of Apple's retail stores can be attributed to Johnson insofar as he was responsible for retail operations but the overall success is as much timing as anything.

I understand the desire to lead an iconic brand from the top seat, but JCP? It won't happen. Apple got to pick its retail locations whereas JCP is where it is: low-image retail. I'm sure they'll be shuttering some locations and opening new ones ... but the challenges, while they may look exciting, are quite large. QUITE large.
Click to expand...

...and the final kick-in-the-head - - having to pay $50 million of his own money for the privilege.

:confused:
 
Dude is smart. He just made himself 5 million with his 50 because he knew the stock would go up.

MacRumors said:
[url=http://cdn.macrumors.com/im/macrumorsthreadlogodarkd.png]Image[/url]


Image

The Wall Street Journal is reporting that Apple Senior Vice President of Retail Ron Johnson is leaving the company to take the position of president at department store chain J.C. Penney, a move that will put Johnson in position to become CEO at the company within the next few months.Johnson, who came to Apple eleven years ago from Target, has been credited with being the driving force behind Apple's runaway success in its retail store initiative that has grown to include 325 stores worldwide. Johnson has also been a fixture at many of Apple's highest-profile retail store openings around the world.

Johnson's philosophy for Apple's retail stores has been to "create a place that people will love", focusing on the customer experience rather than simple square footage or sales metrics, although Apple's retail stores are of course performing extremely well by sales measures as well. During his tenure at Apple, he oversaw the entire retail store development process, from the original stores in Tysons Corner, Virginia and Glendale, California to the iconic buildings now located in a number of cities around the world.

Article Link: Apple Retail Chief Ron Johnson Departing to Lead J.C. Penney
Click to expand...
 
bobob said:
...and the final kick-in-the-head - - having to pay $50 million of his own money for the privilege.

:confused:
Click to expand...

He doesn't have to pay. He's choosing to invest as a sign of good faith to show that he believes in the company and its future.

He will most definitely profit from this quickly and easily.
 
Mattie Num Nums said:
Happens a lot with new CEO's. That "investment" usually pays off no matter what happens.
Click to expand...

If wonder if he made the investment before the market opened today? If he did he is already up around $8.5 mil

The stock if flying off that news.

He is clearly in it for the long term but it would be interesting to see the volume in JCP options yesterday.. by people in the know
 
HitchHykr said:
Did you guys see the part where he's investing $50M into JC Penney? I hope that doesn't become a new trend, I can imagine my next interview:

Them: "How much can you 'invest' in the company?"
Me: "I can put in 50"
Them: "50 Million?"
Me: "No, 50 bucks"
Click to expand...

It's more like:

Them: "How much can you 'invest' in the company?"
Me: "I can put in 50 B"
Them: "50 Billion?"
Me: "No, 50 Bucks"

;)



But seriously, I'm afraid it might become a trend. You'll have to buy your CEO title.
 
Great guy who seemed to genuinely enjoy chatting with Apple fans, including myself at the NYC Upper West Side opening.

Good luck, Ron!
 
vending machines

You see? this is where he can come in and use his Apple connections to get those dang Apple machines into JC Penny.."Unllocked iPhone 4...$649..enter credit card" LOL
 
Maybe Apple can recruit the Microsoft Store kingpin?

Or wait.... do they have any stores still? :p

JC Penney's will probably have a "Fashion Bar" soon.
 
Good for him. He earned his stripes but his move to JCP ain't going to changed a damn thing there. JCP is cluttered with sh** from just about every damn retailer. The staff is low paid and pissy. Have you ever seen a manager at JCP? LOL!
 
Ron Johnson, came such a long way from working at that stereo store and picking up chicks at that pizza place in the mall

;)
 
ABernardoJr said:
What would you expect, for an associate to leave a customer he or she was talking to just to ring you up? I understand the part about being upset about trying to sell you more things but how can you complain about them not leaving their customers while they're talking? I'd think you'd be upset if you were talking to an associate and he or she just left so the other customer could save 15 whole minutes.
Click to expand...

No, there were other employees ringing people up for other stuff like iPods and even iPhones, they simply wouldn't ring the iPad up until the guy who was supposed to wring more money out of me quit trying to wring more money out of the customer he was presently talking to.

One of the advantages to getting one on launch day is there are too many people to spend 15 minutes to upsell every one.
 
morespce54 said:
It's more like:

Them: "How much can you 'invest' in the company?"
Me: "I can put in 50 B"
Them: "50 Billion?"
Me: "No, 50 Bucks"

;)



But seriously, I'm afraid it might become a trend. You'll have to buy your CEO title.
Click to expand...

Why? You planning on applying for a CEO position but you feel restricted by your inability to commit to a $50 million stock purchase?
 
JGowan said:
We use to play poker on a weekly basis. Great Retail man. Not so great at poker. Apple will miss him. I know I do.
Click to expand...

My first Apple beer bash and I go an spill my beer on Ron. He was really cool about it luckily! I had that time to go update my resume look in my face :eek:
 
From 9to5Mac:

You can almost taste the sarcasm in the press statement from Apple:

“Ron is excited about this opportunity and we hope it goes well for him,” a spokesperson said. “We’ve got a great retail team in place and are actively recruiting for his replacement.”​

JCPenny also released a statement with some interesting information:

As a demonstration of his confidence in J. C. Penney’s long-term potential, Mr. Johnson requested and has committed to make a personal investment of $50 million in the Company through the purchase, at fair market value, of 7 1/2-year warrants on 7.257 million shares ofJ. C. Penney Company stock. The warrants cannot be sold or hedged for the first six years of their term and have a strike price of $29.92, the closing price of the stock on the business day prior to Mr. Johnson’s commitment to purchase the warrants.​


As JCP is up 12% on the hiring news, Johnson just made $6M on his first day. Not bad, but he’s still just went from the second biggest company in the world where he’d pull in double digit million dollar bonuses to a $7B company that sells unremarkable clothes.
Click to expand...

Ouch, sounds like Jobs and the board aren't too happy about this.
 
rdowns said:
From 9to5Mac:



Ouch, sounds like Jobs and the board aren't too happy about this.
Click to expand...

Of course not. Jobs knows that the more of his original people leave the more Apple needs to scramble. Everyone credits Steve for Apple but its not Steve per se. It was Steves vision and hiring of the correct people to take on that vision. Ron leaving Apple is huge. Ron WAS Apple Retail. He was the reason it succeeded. Apple Retail was Steves Dream lived through Rons Vision.
 
You must log in or register to reply here.
Register on MacRumors! This sidebar will go away, and you'll see fewer ads.
Top Bottom
Back