For two years, Apple has struggled to find a quality permanent replacement for its former head of retail Ron Johnson, who left the Mac maker in order to become CEO of JC Penney.
On Monday, Apple may have found an available candidate to replace Ron Johnson... and that would be Ron Johnson, who is apparently on his way out as chief executive officer at JC Penney.
JC Penney CEO Ron Johnson is out and Mike Ullman will rejoin the company as CEO, receiving an annual base salary of $1 million.
According to CNBC, Ullman - who was CEO at the retailer from 2004 to 2011 - was recently approached by the board and asked to return in hopes of helping the "troubled retailer" regain its lost footing.
"We are fortunate to have someone with Mike's proven experience and leadership abilities to take the reins at the company at this important time," Thomas Engibous, chairman of the company's board, said in a statement today. "He is well-positioned to quickly analyze the situation JC Penney faces and take steps to improve the company's performance."
As of this writing, Johnson's old job at Apple is still vacant.