Kramer and Walker's exits mean that five key executives have left JCPenney this month alone.
CEO Ron Johnson left last week after a disastrous 16 months on the job.
Dana Mattioli at The Wall Street Journal spoke with Kramer in February about the company's culture since it began laying off thousands of workers.
Kramer was recruited by Johnson, and had previously worked with him at Apple.
High-profile executive Nick Wooster also left and VP Of Marketing Sissie Twiggs also left this month.
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