J.C. Penny’s President resigns

The President of J.C. Penney – Mr. Michael Francis has resigned. He had served in this role for only eight months.

Previous to serving as President at J.C. Penny, Mr. Francis had served as executive vice president and chief marketing officer at Target. Following his resignation, former Apple stores head Ron Johnson who will continue as CEO, will also assume the responsibilities of the company’s marketing and merchandising functions.