Penney Nabbing Johnson From Apple Sets ‘Huge Expectation’

Ron Johnson, who helped turn Apple Inc. into a retail star with flashy big-city stores, now faces the challenge of conjuring up similar buzz around 109-year-old retailer J.C. Penney Co.

Johnson will take over as chief executive officer on Nov. 1, replacing Myron Ullman in the midst of a sales turnaround. The third-biggest U.S. department-store chain aims to hold onto growth amid the slowing economic recovery and surging costs for materials such as cotton.