Apple retail exec to one day become Penney CEO

Apple Inc head of retail operations Ron Johnson will become president of department store operator J.C. Penney Co Inc and eventually become chief executive officer, according to a CNBC report, quoting a Wall Street Journal story.

Johnson joined Apple in January 2000 and has overseen the opening of 300 stores.

A spokeswoman for Penney did not immediately return an email seeking comment on the report.

Penney shares rose 7.8 percent to $32.46 in morning trading.

(Reporting by Phil Wahba, editing by Dave Zimmerman)