Markets: News  

J.C. Penney Pres. Francis exits after eight months

SAN FRANCISCO (MarketWatch) -- J.C. Penney, Inc. President Michael Francis is leaving the company, the retailer announced Monday. Francis joined the Plano, Texas-based company in October 2011 after working for most of his career at Target Corp. . The reason for his departure was not disclosed. Chief Executive Officer Ron Johnson will oversee the position's responsibilities in the interim, the company said. J.C. Penney shares have fallen nearly 44% from their 52-week high in February. The stock closed Monday at $24.33 a share.