JCP ousts Kramer, brings back Mangone
April 19, 2013,
Plano, Texas -- On the heels of the exit of former ceo Ron Johnson, JCPenney has sent packing another high-profile executive - coo Michael Kramer.
JCP's former chief of product design, Ken Mangone has been rehired as executive vp of product development, design and sourcing. He had left the company in December.
Kramer had been JCP's coo since Dec. 5, 2011, and served as an interim cfo from April 13 to May 7, 2012.
His departure comes about a week after JCP ousted Johnson and replaced him with Mike Ullman, who served as the company's chief from 2004 to November 2011.
Both Kramer and Walker were hired to their JCP posts by Johnson.
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