Apple Inc. (AAPL) Retail Head Ron Johnson To Join J.C. Penney as CEO

Apple Inc. (NASDAQ:AAPL) retail stores have witnessed huge growth over the last decade and now Ron Johnson, Senior VP of Retail Operations who helped Apple gain this success will be leaving the company to join J.C Penney as CEO. With 300 retail stores around the world Apple has been successful in creating a strong brand presence and creating a unique shopping experience for its customers. People queuing outside the stores days ahead of iPhone / iPad launch speaks volume about how users want to be the first ones to touch the newly launched products.

Jobs hired Johnson in the year 2000 to focus on Apple’s retail operations. In the quarter which ended in March the retail stores generated $3.19 billion in revenue, up about 90 percent from a year earlier. In an interview Johnson said:

While it’s very difficult to leave Apple, perhaps the greatest company in the world, I just wanted a chance to lead a company in an industry that’s kind of tied to my roots in retailing,

J.C. Penney is the third-biggest department-store chain in the U.S. and operates more than 1,100 stores. While the retail industry has been hit with increasing costs Johnson has accepted a new challenge and the stock market has responded in favor of the retail giant.

{via Bloomberg}

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