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JC Penney, Sears, A&F make list of 2013's worst CEOs

December 30, 2013

Fox Business has released its annual list of the worst CEOs, and three of the seven slots are reserved for retail leaders.

No. 5 on the list is Eddie Lampert, the CEO and chairman of Sears, the man who "has presided over the slow and steady decline of what was once a great American retail brand," according to the article. At No. 3 is Michael Jeffries, the controversial CEO of Abercrombie & Fitch. Jeffries was pilloried online throughout the year for a range of comments he made, including the fact that his company only wants business from conventionally beautiful people ("Candidly, we go after the cool kids ... A lot of people don't belong [in our clothes], and they can't belong").

It will probably come as no surprise to learn that the No. 1 spot on the list was "awarded" to Ron Johnson, erstwhile CEO of JC Penney. Writer Steve Tobak doesn't pull his punches:

In an attempt to replicate his success as head of Apple's retail operation, Johnson tried an extremely risky move. He gutted the company from top to bottom in a massive restructuring and reorganization of its executive team, middle management, retail stores, inventory, and promotional strategy.

The results were a complete disaster as customers fled, revenues plummeted, and cash dwindled. Johnson was canned in April but so much damage was done it’s still not clear if the 100-year-old chain will ever recover. JC Penney shares are trading near 25-year lows.

Not only is Ron Johnson my hands-down pick for worst CEO of 2013, he may very well turn up in my worst of the decade list.