Ron Johnson out as J.C. Penney CEO -CNBC

April 8 Mon Apr 8, 2013 5:04pm EDT

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April 8 (Reuters) - Ron Johnson is out as chief executive of the department store chain J.C. Penney, CNBC reported on Monday, citing a source.

J.C. Penney shares rose 10.8 percent in after-hours trading after the CNBC report.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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