Ron Johnson, head of Apple Retail, leaves to become CEO of JC Penny

Apple Retail Stores about to go 2.0?

Ron Johnson, the man who helped Apple revolutionize retail with the Apple Stores, is leaving to take over the CEO spot at JC Penny. Apple has issued the following statement to All Things D:

"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."

And JC Penny states that Johnson isn't just taking over, he's taking on a large investment as well:

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.

Apple Retail's last big splash was the installation of iPads as information centers for all Apple products. Apple has probably institutionalized Apple Store procedures to the extent that Johnson's leaving won't have a huge impact, and it will be interesting to see if an influx of fresh blood -- and fresh ideas -- in the top retail spot can help take Apple further.

Anyone worried this means a lot of glass, wood, and aluminum are on their way to JC Penny outlets everywhere?

[All Things D, JC Penny]

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Rene Ritchie

EiC of iMore, EP of Mobile Nations, Apple analyst, co-host of Debug, Iterate, Vector, Review, and MacBreak Weekly podcasts. Cook, grappler, photon wrangler. Follow him on Twitter and Google+.

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Reader comments

Ron Johnson, head of Apple Retail, leaves to become CEO of JC Penny


And your gonna be the one to whine about one misspelled word.
I mean geez it's a tech blog, not an English blog.

finaly. A well thought out comment. People seem to forget that JCP has been around for almost 100 years. It was one of America's first major retail stores. (long before Target, walmart, Kmart etc) and the fact hes becoming CEO is the best thing.

Ron Johnson has 50m to spend! Criminy! This is from his own pocket!
Good luck to you Mr. Johnson. I wish you well with JC Penney's and its war with Nordstroms, Macy's, Dillards, and such.
To the person who is taking over for Mr. Johnson at Apple, you better get ready for plenty of face time with Mr. Jobs.

First of all, its J.C. Penney is not spelled like the coin (Penny).
Second of all, aside from this one instance, this website probably has the worst grammar/spelling errors on the internet. Almost every single one of your articles is FULL of misspelled words. That is unacceptable coming from Senior and Managing Editors.

I think J.C. Penney still has one foot in the grave. Ron is gonna have to pull off a miracle to turn that ship around. Just based on all the catalogs, and I use that term loosely, they send that have the same thing in every single one, that miracle will need to be incredible.

Ok first off, are all you guys really whining about a misspelled word? Do you guys have no life, nothing better to do then whine and comain about spelling on the internet?
And if I had a choice between apple and jc Penney (had to make sure that was spelled right for you cry babies, although now you will probably complain about the jc not being capitalized) I would definitely chose apple. And not just because I'm an apple fan, but the job security. Apple isnt going anywhere anytime soon..

But hes becoming the CEO of JC Penny. Besides jC Penny is not going anywhere soon. They have been around for ages.
You say Apple won;t go anywhere soon, well what happens if Steve Jobs dies?
Its all about money. Not playing around with some fancy "iDevice"

To all that were complaining about the spelling, I commend you for your logic.
This is a blog. By definition it's purpose is to "write" about news, events, etc.
Spelling mistakes should be embarrassing to the editors. I mean I'd understand if you were engineers (and writing wasn't really your thing) that are completing hundreds of drawings for a project with revisions, changes and additions, however, even engineers must refer properly to names and spelling of parts, equipment and other items as they still need to design label layout schematics for the equipment too. Having said that, there really is no excuse for a blog to have consistent spelling slip ups like this.

Sure. Become CEO of a compney thats been around for almost 100 years and make tons of money or spend all day playing with ipads. I think I'd chose money.,

I think there is a 0% chance of even Johny ive to become CEO. I think Tim Cook may be the next CEO if jobs dies.