According to today’s WSJ, Ron Johnson, the head of Apple retail, left to become President (slated to be CEO in a few months) of JCPenney.
This is a big loss for Apple, and a gain for Penney. However, Apple is an upscale brand with strong brand equity. Penney, on the other hand, is a low discount retail chain. Before Apple, Johnson was a VP at Target, the mire upscale big box store.
It remains to be seen what Johnson can do in a different class environment.