JCPenney (JCP) CEO Johnson Received No Bonus, Stock Awards Following FY12 Bloodbath

April 3, 2013 12:36 PM EDT
CEO Ron Johnson saw a dramatic pay cut which nearly mimicked JCPenney's (NYSE: JCP) stock last year.

JCPenney awarded the beleaguered CEO no bonus or stock awards last year. Johnson took home $1.5 million in salary and $389,000 in other compensation, mostly tied to aircraft use.

The compensation is down from over $50 million in stock awards Johnson received when joining JCPenney to make up for what he would be leaving behind at Apple (Nasdaq: AAPL).

Shares of JCPenney fell by about 50 percent on a 25 percent drop in sales last year as Johnson tried to mount a turnaround in sales with a new "fair and square" pricing initiative.

While Johnson has no plans to step down as CEO of the retailer, board members have said in the past they would consider a replacement if the decline in sales isn't stopped.

Shares of JCPenney are down 0.5 percent Wednesday.

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