4:34 pm
Tue August 13, 2013

J.C. Penney Board Member Resigns After Criticizing Management

Originally published on Tue August 13, 2013 6:31 pm

William Ackman, a controversial hedge fund manager, has resigned from the board of the J.C. Penney Company. Ackman is Penny's largest shareholder and had been engaged in a public dispute with the board over who should lead the struggling retailer.