(Johnson wanted to go further and install floating stages in the company cafeteria, but the fire marshal nixed the plan.) After he had made his presentation, the new CEO brought the directors downstairs to deliver the coup de grâce in the form of a sound and light show. He had commandeered a large basement studio at Penney’s Plano, Texas, headquarters and had workers construct two rooms. Johnson demonstrated that he’d learned a thing or two about stagecraft from his legendary former boss at Apple.
By then CEO for just a month, Johnson laid out his vision of a more upscale, more youth-oriented Penney, weaned of its addiction to price promotions. That fall Johnson began unveiling his planned strategy to Penney’s board, culminating in a big presentation on Dec.
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