97 percent OFF!

JCPenney Slashes CEO Salary

How about this discount! In a regulatory filing on Tuesday, JCPenney cut 97 percent of CEO Ron Johnson’s pay, to $1.9 million. No executives at the company were paid bonuses. Since arriving in 2011, Johnson, a former Apple executive, has overseen a precipitous decline at JCPenney, and analysts say he probably has a couple of quarters to turn the flailing company around.