Daniel Walker

Ron Johnson, the former J.C. Penney chief executive who was ousted last year after a controversial attempt to modernize the retail chain, didn't receive severance when he left the company. Johnson and Chief Talent Officer Daniel Walker, who also resigned in April 2013, both didn't receive severance payments, according to a company filing yesterday. Michael Kramer, the former chief operating officer, did get a payout, though the company reduced his termination agreement by $1 million. He was paid a total of $2.35 million last year. The lack of severance serves as an endnote to Johnson's tumultuous career at J.C. Penney.

Plano, Texas -- It’s official: Two more Apple Retail veterans are joining their former boss Ron Johnson at J.C. Penney Co. The news came as J.C. Penney reported a third-quarter net loss of $143 million and issued a tepid holiday forecast. J.C. Penney named Michael W. Kramer, CFO of Apple Retail from 2000 to 2005, as COO. Kramer has been the president and CEO of Kellwood Co. since 2008, where he oversaw a portfolio of fashion brands. He also served as executive VP and CFO at Abercrombie & Fitch, from 2005 to 2008. "Mike is an extremely talented executive,

New York City -- A Thursday report by the Wall Street Journal said that new J.C. Penney CEO Ron Johnson, who recently left Apple to run the department store chain, is recruiting other former Apple players to join the J.C. Penney team. According to the report, J.C. Penney is nearing a deal with Michael Kramer, former CFO of Apple Retail from 2000 to 2005 and currently CEO of Kellwood Co., to join J.C. Penney as its COO. WSJ cited people familiar with the matter, and said Kramer will start at Penney effective Dec. 1. The report also suggested that