-
Johnson out as CEO of J.C. Penney; Ullman back
New York -- Ron Johnson is out as CEO of J.C. Penney. In making the announcement, the company also said that that Myron E. (Mike) Ullman has rejoined Penney as CEO, effective immediately. Ullman, who served as CEO of Penney until late 2011, has also been elected to the board of directors.
Johnson’s departure was not all that unexpected given the chain’s mounting losses and sales declines. But it was still a stunning reversal of fortune for the former golden boy of Apple, who left the tech giant amid great fanfare for the top job at Penney. -
Jamestown acquires San Luis Obispo retail, office portfolio
San Francisco -- Jamestown said Wednesday it has acquired a real estate portfolio in downtown San Luis Obispo, Calif., comprised of 86% retail and 14% office space in open-air, multi-story settings.
The retail component, purchased from Copeland Properties, consists of seven assets, the most notable being Court Street Centre and Downtown Centre, and totals approximately 195,000 sq. ft. The portfolio also includes 28,000 sq. ft. of office space in three separate properties.