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Reuters reports that in the wake of the firing of CEO Ron Johnson by JC Penney, three more executives have left the company - Chief Operating Officer Mike Kramer, Chief Talent Officer Daniel Walker and Chief Creative Officer Mike Fisher. All three, like Johnson, had worked for Apple Inc. before moving over to try to reinvent JC Penney.

As noted elsewhere here on MNB this morning, Johnson was fired after 17 months, during which time he tried to move the company from a coupons-and-promotions model to EDLP, but only managed to send sales, profits and customer traffic into the proverbial toilet. He has been replaced by his predecessor, Myron Ullman.
KC's View:
No surprise here ... but if JCP starts hiring back old executives to run the place, that's reflect the degree of desperation felt by the board.