CEO Jill Soltau’s Slow Approach To Save JC Penney Might Be As Dangerous As Ron Johnson’s Attempt At A Quick Transformation [Forbes]
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Source: Forbes
CEO Jill Soltau’s Slow Approach To Save JC Penney Might Be As Dangerous As Ron Johnson’s Attempt At A Quick Transformation Jill Soltau has done a lot of things right since she joined JC Penney as its new CEO nearly a year ago. She’s brought on some top-notch talent on the merchandising and operations sides to try to fix the retailer’s many, many problems. She’s cleaning out dead inventory levels that got frightfully high over the years and were threatening to envelop both the stores and the bottom line. And she’s initiated a few tests and new concepts that, while small in scale, show promise. But what she hasn’t done is do any of this—and so much more—very quickly. And there could be a very good reason for that by the name of Ron Johnson. Any retailing case study book of the past 20 years invariably starts off with the debacle created when Ron Johnson, forced upon a struggling retailer by its meddling private equity investor Bill Ackman, recklessly turned the entire company upside dow
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