The news that Ron Johnson was out
While Johnson erred on the side of changing too much too fast. Ullman is on the other, equally bad side of the spectrum. In his 6 years at JC Penney, he failed to make the changes the company desperately needed.
Hedge fund manager Bill Ackman explained his support for Johnson in a 2012 presentation. We’ve excerpted the parts that explain why Ullman failed.
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