Right now, Johnson isn’t calling the shots any more. The board is. The Christmas situation is really tough for the vendors. They’re the ones that are going to get screwed bigtime in bankruptcy. As well as the stockholders, of course.
But I have not seen any changes in the general direction they are taking the stores.....regardless of who is calling the shots or not. It’s still all systems go to change the face and workings of the company.
BTW when you mention the board making decisions now...better to narrow that down to ‘one’ individual who owns the highest number of stocks in the company.....same one responsible for bringing in ‘Johnson’ in the first place.
He tried to get on Target’s Board and was not accepted or they’d probably be singing the same song as Penney’s.
Not to forget also, that Johnson was 25yrs. with Target BEFORE he went to Apple or came to Penney’s thereafter.
As I see it ..between that guy and Johnson they have a straight-jacket on the board....