JCPenney ousts CEO Ron Johnson from Texas-based company

J.C. Penney's board of directors has ousted CEO Ron Johnson after only 16 months on the job as a risky turnaround strategy backfired and led to massive losses and steep sales drops.

http://www.khou.com/news/business/JCPenney-ousts-CEO-Ron-Johnson-from-Texas-based-company-202112321.html