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J.C. Penney COO: ‘I Hated the J.C. Penney Culture, it Was Pathetic’

February 26, 2013
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J.C. Penney experienced a seismic shift on corporate culture when CEO Ron Johnson took the helm of the company more than a year ago. The new guard didn't like J.C. Penney's old way of doing things at headquarters. Not one bit. Dana Mattioli at The Wall Street Journal spoke with J.C. Penney Chief Operating Officer Michael Kramer about the company's culture and the mass layoffs at the company's headquarters. He's one of the execs brought in by Johnson, who he'd previously worked with at Apple....

 

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Never have I seen so much bad news about a company I really like. I think Ron Johnson, president and CEO of J.C. Penney, is a capable strategist. His idea to streamline the company and reduce sales is admirable. While his instincts may have been right, his guidance of the operation has been flawed. For starters, he never tested his merchandise pricing concept prior to putting it into action. Now the news is getting very bad, which will only make matters worse for the future of the company. Bad news begets bad news. Here are some recent observations:

 
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