After
only eight months, Michael Francis , one of the key architects of
J.C. Penney's high profile turnaround efforts, is leaving the company,
effective immediately. In October, the former Target exec became J.C. Penney's
president, responsible for merchandising, marketing, planning and allocation,
and product development and sourcing. CEO Ron Johnson will assume direct
responsibility and oversight of the company's marketing and merchandising
functions.
