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JC Penney president exits company

JC Penney president Michael Francis, who was brought in to help with the department store chain's transformation and re-branding, has left the company. No reason was given for the abrupt departure of Francis, who also oversaw merchandising and product development and had been on the job for a little over eight months. Francis joined JCP from Target.
     In May, JCP gave its first earnings presentation since the retailer began its four-year plan to become "America's favorite store" by transforming its pricing, promotions and products and how those products are presented.
     In June, the company announced the appointment of Paul Rutenis to senior vice president and general merchandise manager for the company's Home division, taking over the position vacated by John Tighe, who was appointed to general merchandise manager of the Men's division. Rutenis is providing leadership to Home merchandise teams and continuing Tighe's effort of re-energizing the home merchandise assortment. Rutenis joined JC Penney in April 2011 as the divisional merchandise manager of furniture and decorative accessories.

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