Dive Summary:

• Myron Ullman will return to chief executive of J.C. Penney following the dismissal of former Apple retail guru, Ron Johnson, his former successor. Many analysts believe this indicates a lack of top management talent.
• A number of other retail executives are rumored to have declined to take the position due to the problems currently facing the retailer including budget constraints, according to reports.
• Industry search firm E.A. Hughes & Co. states there is a crisis in the retail industry in regards to a lack of qualified executives, citing several factors including a lack of spending on management training and development by retails.
   

From the article:

There is another complicating factor: increased interest in leaders with a strong grasp of e-commerce. Online sales have skyrocketed while brick-and-mortar growth slowed. "Boards of retailers want CEOs with the ability or expertise to understand the digital world—and how consumers shop digitally,'' observed Jim DiFilippo, a managing partner for the consumer and retail practice at recruiters CTPartners.