Ron Johnson Has Now Forced Out Every Top-Level Executive From JCPenney's Previous Regime

ron johnson michael francis jcpenney

Photo: Business Insider

JCPenney CEO Ron Johnson replaced four of the highest-level executives with his own hires right off the bat when he took the job at the retailer — chief operating officer, chief marketing officer, chief technology officer and chief talent officer. Chief financial officer Michael Dastugue was fortunate enough to keep his job in the c-suite, but now he’s gone too. 

Dastugue’s departure seems abrupt. He was only given a 48-hour notice, and JCPenney evidently didn’t find a replacement beforehand — COO Mike Kramer is assuming the role of interim CFO until someone is found.

But it has been obvious from the get-go that Johnson wants nothing but his own handpicked crew to lead JCPenney.

Apparently, Dastugue didn’t fit the bill.

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