Michael Francis headed for the exit Monday at JCPenney after nine short months with the company. Seems the "dream team" is not winning any medals.
Francis was responsible for marketing and merchandising, which will now fall under the control of CEO Ron Johnson — you know, the dream CEO that came from Apple?
After celebrating the one-year anniversary since announcing he will take the helm at the company just last week, as I said in my recent blog, there will be no love letters for Johnson. The stock price is now down more than 30 percent since it was announced Johnson would take the helm, raising hopes that he would transform JCPenney into "America's Favorite Store."