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J.C. Penney Loses More Former Apple Executives, Newspaper Says

Thursday, 11 Apr 2013 08:29 AM

Three more top executives at J.C. Penney have left the ailing retailer, the New York Post reported, following the ouster of Chief Executive Ron Johnson.

Chief Operating Officer Mike Kramer, Chief Talent Officer Daniel Walker and Chief Creative Officer Mike Fisher exited the retailer on Wednesday, it said.

In a controversial move, the struggling department store chain parted ways with Johnson, who failed to win over shoppers and investors with his everyday-low-price strategy, and on Monday rehired Johnson's predecessor, former CEO Myron Ullman, to revive the company.

Citing a source close to the retailer, the newspaper said Kramer resigned, but added it was not clear whether Walker and Fisher left voluntarily.

J.C. Penney could not immediately be reached for comment by Reuters outside of regular U.S. business hours.

The three executives, like Johnson, had previously worked at Apple.

The Post also reported that the former J.C, Penney CEO is reaching out to the chief executive of rival Macy's, Terry Lundgren, to settle an ongoing legal dispute over a deal with Martha Stewart Living Omnimedia.

According to the publication, a possible settlement would end Penney's 10-year, $200-million Martha Stewart home goods licensing deal that ousted CEO Johnson had negotiated.

© 2015 Thomson/Reuters. All rights reserved.

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