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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