And the tragedy continues..


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JCPennylogoI have posted several times about J.C. Penny. (Just search the archives for J.C. Penny). In my last post, I suggested the Board of Directors was to blame for this debacle. And now they are compounding the problem.

They have posted a video asking their customers to come back to the J.C. Penny they knew and loved. They are bringing back their old house lines/brands. In effect, they are going back to the old J.C. Penny. For what purpose?

If the old J.C. Penny was working, what caused them to hire a transformational CEO? If the old J.C. Penny was not working, what is the purpose of bringing it back? Nothing better to do? Really, a high-powered Board fires their CEO without a plan other than to go back to what wasn’t working before they hired him? Where can I get a gig like that?

The effects of Board actions are often misunderstood or under-estimated. In my opinion, the Boards of Directors of GM and HP were complicit in those companies’ demise, and I believe we can add the Board of J.C. Penny to the list.

If you are going to use an outside Board, make sure you get a good one and then listen to them. If they aren’t worth listening to, replace them or get rid of them.


Republished with author's permission from original post.

Mitchell Goozé
Mitchell Goozé is the president and founder of Customer Manufacturing Group. His broad scope of business experience ranges from operations management in established firms, to start-up and turn-around situations and mergers. A seasoned general manager, he has headed divisions of large corporations and been CEO of independent firms, always focusing the company strategy on the most important person in business . . . the customer.


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