Apple Inc. (NASDAQ:AAPL) may want Ron Johnson back. It was announced on Monday that he was out as CEO at struggling retailer J.C. Penney Company (NYSE:JCP). Initially shares of J.C. Penney jumped 11 percent after the news, although this morning at the moment of this writing, the stock is down more than 7 percent.
Of course prior to taking the helm of J.C. Penney Company (NYSE:JCP), Johnson headed up Apple Inc. (NASDAQ:AAPL)’s retail division, where he helped build the company up. In fact, activist investor Bill Ackman’s decision to recruit Johnson to turn J.C. Penney around was undoubtedly based on his success with Apple Inc. (NASDAQ:AAPL)’s retail division.