Let’s just point this out upfront: By most accounts, Johnson was trying to accomplish the seemingly impossible with a radical reinvention of the JC Penney brand. Many thought that if anyone could do it, it was Johnson, the retail superstar credited for making Target hip and turning the Apple Store into a monster success story. His plans were bold—too bold, virtually everyone now agrees. Correspondingly, he was removed as CEO not because he came up a little short of the goals set for the company. He was ousted because he failed in spectacular fashion.

Good analysis.