Photo: Astrid Stawiarz / Getty Images
JCPenney president Michael Francis is leaving the company, effective today. CEO Ron Johnson will take up his responsibilities, which included marketing and merchandising.
Before JCPenney, Francis was in charge of Target’s marketing and was a key figure in the evolution of that brand.
JCPenney hasn’t yet provided a reason for his departure.
From the press release:
PLANO, Texas, June 18, 2012 /PRNewswire/ — J. C. Penney Company, Inc. (“jcpenney”) (NYSE: JCP) today announced that Michael Francis will be leaving the Company, effective today. Chief Executive Officer Ron Johnson will assume direct responsibility and oversight of the company’s marketing and merchandising functions.
Johnson said, “We thank Michael for his hard work at jcpenney and wish him the best in his future endeavours.”
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