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J.C. Penney Slashes Ron Johnson’s Pay

Stephanie Clifford reporting for The New York Times:

Since Mr. Johnson arrived in late 2011, J. C. Penney has wrestled with one problem after another. Mr. Johnson did away with discount sales, but revived them when it turned out customers liked sales. He proposed a three-tiered pricing strategy that he abandoned when customers were confused. He revamped the company’s advertising strategy to focus on lifestyle, not prices, but backtracked when it turned out customers wanted the ads to tell them how much items cost.

Ron Johnson took the helm of J.C. Penney with some bold (and I think, good) ideas for disruption. Unfortunately, the department store market wasn’t and still isn’t begging for change, which you can see above.

In 2012, Johnson made just 3% of his 2011 salary. I think Apple would be interested in taking him back.