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  • JCPenney ousts CEO Ron Johnsonadd to reading list  

    Posted on April 8, 2013 at 4:27 PM

    Updated Monday, Apr 8 at 8:30 PM

    J.C. Penney's board of directors has ousted CEO Ron Johnson after only 16 months on the job as a risky turnaround strategy backfired and led to massive losses and steep sales drops. Johnson is being replaced by his predecessor.

    By ANNE D'INNOCENZIO AND CANDICE CHOI
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