By  on June 19, 2012

It was a case of too many cooks in the same kitchen — two to be precise.

On Monday, J.C. Penney Co. Inc. disclosed that its president, Michael Francis, had abruptly left the company, and did so with little explanation. But on Tuesday, as Penney’s stock price continued to tumble on the news and with speculation swirling, Ron Johnson, J.C. Penney’s chairman and chief executive officer, told WWD why Francis, considered a whiz kid at marketing and credited with establishing Target Corp.’s cheap-chic image, left the $16.5 billion Penney’s after just eight months on the job.

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