Senator Ron Johnson , a Wisconsin Republican who founded specialty plastics company Pacur LLC and touted his business credentials on the 2010 campaign trail, sold all his stocks, bonds and mutual funds and put the money into cash accounts before taking the oath of office in January.
Ron Johnson’s tenure at J.C. Penney Co. will long be associated with a 25 percent sales plunge. Lost amid the criticism since his departure last month is the $170 million it cost to install Johnson and his top three executives.
J.C. Penney Co. made a radical break with tradition by hiring Silicon Valley wunderkind Ron Johnson as chief executive officer. With Johnson gone, the chain may have to pursue more radical options, such as selling itself.