JC Penny President Michael Francis resigns

Johnson said, "We thank Michael for his hard work at jcpenney and wish him the best in his future endeavors."

Over 110 years ago, James Cash Penney founded his company on the principle of treating customers the way he wanted to be treated himself: fair and square. Today, rooted in its rich heritage, J. C. Penney Company, Inc. is re-imagining every aspect of its business in order to reclaim its birthright and become America's favorite store.

J. C. Penney Company Inc