Long Commute by New JCPenney (JCP) Execs Slows Progress, Alienates Employees
Despite CEO Ron Johnson's efforts to turn around J.C. Penney (NYSE: JCP) as retailer, he's really making it hard on himself.
According to Bloomberg, Johnson has hired no less than nine executives which live "airplane only" distance away, which translates to more miles than would make for a comfortable commute.
JCPenney has its headquarters in Plano, Texas. The following are some of the commutes:
The company pays for all that mileage. One spokesperson for JCPenney noted via email that no matter where an executive lives, their job requires extensive travel in visiting stores, as well as meeting with current and potential business partners both in the U.S. and abroad.
"While most of the company’s leadership is based in Plano, “it’s important that leaders devote their time and energy on transforming the company wherever their job responsibilities require them to be," the spokesperson concluded.
Johnson and the other executives that live in California are said to work out of an office there on Fridays, departing Texas Thursday night. He has been accused of not being at the office before.
Despite the spokespersons statement, some believe that it has slowed some decision making at JCPenney, as well as drawn some strife from long-time Penney employees. Bloomberg cites sources in saying that those long-standing employees have been referred to as DOPE, short for “dumb old Penney employees." The JCPenney spokesperson said she never heard that term being used
Shares of JCPenney are up over 1 percent late Wednesday.
According to Bloomberg, Johnson has hired no less than nine executives which live "airplane only" distance away, which translates to more miles than would make for a comfortable commute.
JCPenney has its headquarters in Plano, Texas. The following are some of the commutes:
- Johnson, Ben Fay, Laurie Miller, HR head Dan Walker, VP Sissie Twiggs, and SVPs of sourcing Amy Leonard and Donna Isralsky - California, Fay, Miller, Walker, Twiggs, Leonard, and Isralsky all previously worked at Apple (Nasdaq: AAPL), Bloomberg stated;
- Creative chief Michael Fisher, design and trends exec Nick Wooster - New York;
- Construction exec Bob Laughrea - Boston, MA.
The company pays for all that mileage. One spokesperson for JCPenney noted via email that no matter where an executive lives, their job requires extensive travel in visiting stores, as well as meeting with current and potential business partners both in the U.S. and abroad.
"While most of the company’s leadership is based in Plano, “it’s important that leaders devote their time and energy on transforming the company wherever their job responsibilities require them to be," the spokesperson concluded.
Johnson and the other executives that live in California are said to work out of an office there on Fridays, departing Texas Thursday night. He has been accused of not being at the office before.
Despite the spokespersons statement, some believe that it has slowed some decision making at JCPenney, as well as drawn some strife from long-time Penney employees. Bloomberg cites sources in saying that those long-standing employees have been referred to as DOPE, short for “dumb old Penney employees." The JCPenney spokesperson said she never heard that term being used
Shares of JCPenney are up over 1 percent late Wednesday.