Bloomberg: JCP’s Johnson’s Pay was Cut 96%

Apr 09, 2013 11:32 AM  By

Not like we didn’t see the end of the Ron Johnson era coming at J.C. Penney… but on April 3, Bloomberg reported the ousted CEO’s salary had been slashed 96%. It wasn’t just Johnson, bonuses were not given to any of JCP’s executives. When hired, Johnson promised a $1 billion in profits in his first year at the helm. JCP lost nearly $1 billion in its past fiscal year.