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April 9th, 2013
07:16 AM ET

MYB: J.C. Penney CEO Ron Johnson out after troubled tenure – what went wrong?


NEW YORK (CNNMoney)The Ron Johnson era is over at J.C. Penney.

The troubled department-store chain announced late Monday that Johnson is stepping down and leaving the company after just a year and a half. He is being replaced by his predecessor, Mike Ullman, who led the company for seven years prior to Johnson's arrival.

Christine Romans looks on reasons why J.C. Penney sales plummeted under the direction of now-fired CEO Ron Johnson.

READ MORE: J.C. Penney CEO Ron Johnson out after troubled tenure

Filed under: Minding Your Business
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