7 major management shakeups of 2012

Michael Francis
management shakeups michael francis
Company: J.C. Penney

Ever since J.C. Penney (JCP, Fortune 500) hired former Apple star Ron Johnson about a year ago, the store has been struggling to match pace with his whiz-bang vision of cleaning up its retail spaces and sales policies to deliver a high quality customer experience. The latest casualty of the effort has been former President Michael Francis, who was a high-profile hire from Target and held his job at J.C. Penney for only nine months. The shakeup is troublesome, Deutsche Bank's retail analyst Charles Grom told CNN. "We're afraid the environment [at Penney's headquarters] has become 'Ron's way or the highway,' which is never a good culture for a company trying to find itself."

Source: Corbis
  @FortuneMagazine - Last updated November 20 2012 11:08 AM ET
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