Apple Retail boss jumps ship, headed to JC Penney

Apple’s head of retail is leaving the company to become President of JC Penney, Bloomberg said in a wire report. Prior to the move, Ron Johnson lead Apple’s retail strategy and was responsible for its overall performance according to his executive bio on the Apple website. Apple’s retail business reeled in $3.19 billion in revenue last quarter, and it the company is widely heralded for its leadership in the space. Shares of JC Penney stock jumped more than 14% on the news.

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