March 12 J.C. Penney Co Inc hired
away executives from Apple Inc and Coach Inc
and promoted a number of its own executives as part of its plan
to overhaul its business.
J.C. Penney, which in January announced a new pricing and
merchandising strategy, said on Monday it hired Mike Fisher from
Apple as senior vice president of visual presentation. He will
oversee the new appearance of the chain's stores, which will
each be carved up into about 100 boutiques in the next three
J.C. Penney Chief Executive Ron Johnson joined the retailer
from Apple in November.
The retailer announced nine appointments in all. Anne
Cashill, who expanded the women's accessories business at
leather handbag maker Coach, will oversee top brands including
Liz Claiborne, Martha Stewart and l'amour Nanette Lepore.
Penney promoted Liz Sweeney, who had been a senior general
merchandise manager, to chief merchant.
J.C. Penney has largely done away with sales in favor of
regular, lower prices and beginning in August, will start work
on the store revamps. The chain operates about 1,100 department