JCPenney Company Elects Two New Directors
William A. Ackman and Steven Roth...The board of directors of JCPenney Company elected William A. Ackman and Steven Roth as directors.
Both of Ackman, who is founder of hedge fund Pershing Square Capital Management and Roth, chairman of the board at Vornado Realty Trust, will be elected by the retailer's board in January.
Pershing Square Capital and Vornado are among the largest shareholders in JCPenney.
In October, Pershing Square Capital acquired a 16.5 percent stake in JCPenney at the same time Vornado disclosed a stake of 9.9 percent. Shares in JCPenney were trading 2 percent higher midday at $35.74.
By: JewelryOurs
Comments