JC Penney Loses 2 More Execs

Oops, they did it again. Barely a week after ousting embattled Chief Executive Officer Ron Johnson, J.C. Penney (NYSE: JCP  ) announced two more executive departures at the troubled department store chain Thursday.

In SEC filings today, Penney confirmed that, on April 17, Chief Operating Officer Michael W. Kramer "left" the company. The circumstances surrounding his departure were not explained, although JC Penney did note that Kramer is being paid a lump sum of $2.1 million cash in connection with his departure, suggesting it might not have been Kramer's decision to leave.

This implication is further strengthened by the company's simultaneous SEC filing revealing that on April 12 (i.e. six days ago), Chief Talent Officer Daniel E. Walker "voluntarily" resigned from the company. No payment was described as taking place in that departure.

JC Penney shares liked the news, rising 2.6% in regular trading, to close at $15.16.

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