J.C. Penney CEO’s Compensation Slashed

As the retailer struggled, Johnson earned $1.89 mln in 2012, down from $53.3 mln in 2011.

 J.C. Penney Co. Chief Executive Officer Ron Johnson, who is struggling to overhaul the department-store company, had his total compensation cut to $1.89 million last year.

Johnson, 54, received $1.5 million in salary and $344,000 for personal use of the corporate aircraft, according to a filing yesterday. The former Apple Inc. retail chief was awarded $53.3 million in salary, bonus, stock awards and other compensation in 2011, the year he took over as CEO of the Plano, Texas-based retailer.

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