Myron E. Ullman III

Ron Johnson, top retail executive for Apple, is leaving the company in order to fill the role vacated by Myron E. Ullman III, chief executive of J.C. Penney. The switch will occur on November 1, at which time Johnson will leave the company whose retail strategy he spearheaded.

In an attempt to win over fashionable young women, J.C. Penney Co. is going to try running with a faster crowd. This week, the Plano, Texas-based retailer unveiled an unconventional collaboration with Mango MNG Holding SL, the closely-held Barcelona chain known for whipping up cutting edge looks that go from design studio to store shelves in as little as four weeks.