I'm not so sure that Johnson was moving too quickly, however, from what he said, the advertising company jcp is using was ineffectual in communicating the change. Now, I don't know if he was just scape goating the ad agency, or this was the opening shot to replace the existing as agency for one that is going to more effectively carry the message. The latter is more likely.
The new ads that I saw around the end of 2011 were much more captivating than the usual jcp ads, which never left an impression in my memory. Also the catalog sent out via the mail was much more memorable. So much so, that I saved it for reference.
If a company scapegoats its agency then it's basically admitting that it has an incompetent marketing department since nothing would make it to air without the express approval of the JCP folks. A retailer that doesn't understand it's customers deserves to fail.
That said, investors will probably believe it and as others have said, this is a marathon not s sprint. Way too early to tell how it will all play out. I quite liked the weird abstract ads for each season/month but Target beat them with the catchy Alouette/color ads.