J.C. Penney Co. is tapping Ron Johnson, head of Apple Inc.’s
iconic retail stores, as its new president and eventual chief
executive, people familiar with the situation said.
The company is expected to announce Mr. Johnson’s appointment
later today. Mr. Johnson will become CEO in the next few months,
succeeding long-time leader Myron “Mike” Ullman. He joined Apple
from Target Corp., where he was vice president of merchandising
Johnson has been at Apple since the outset of its retail stores.