Miami - Hiring Ron Johnson as JC Penney CEO 17 months ago seemed like a good idea. After all, he was grounded in practical success with Target and yet rocketed to fame as Apple's retail guru. Now, he's gone. A spectacular bust. Penney is mired in difficulties that hedge fund manager Bill Ackman, who handpicked Johnson to revitalize the dormant Penney brand, never saw coming. Johnson's confidence and intelligence were sufficient to the task, no doubt. Was it hubris, however, that had him believing his success at Apple had more to do with his brilliance than with the off-the-charts-popular Apple products he was selling? Undoubtedly. As they say, intellectual intelligence gets you hired and emotional intelligence (or the lack of it) gets you fired. Those unable to discern between the two - and that seems to include Ackman and the Penney board - too often pay the price. The problem is; everyone else pays it, too.
Twitter @jessicamcwade
Twitter @jessicamcwade