J.C. Penney Board Re-elected
New York — Ron Johnson’s job at J.C. Penney Co. ended after his attempt to overhaul the retailer wiped out a quarter of its sales and about half of its market value. The board members who hired him are staying.
Investors voted to re-elect all of J.C. Penney’s directors, the Plano, Texas-based company said Friday. Myron Ullman, who replaced Johnson on the board and as chief executive officer on April 8, also was part of the slate that won shareholder approval.