Friday, February 11, 2011

It’s Official: Pershing Square Capital’s Bill Ackman joins JC Penney’s Board

Leading shareholder activist investor Bill Ackman, who is the CEO of Pershing Square Capital Management, officially joined the board of retailer J.C. Penney Company, Inc. (NYSE: JCP) this week. Mr. Ackman joins the board with Steven Roth, who Pershing Square Capital had also nominated to the board as part of its successful activist campaign against J.C. Penney. Mr. Roth is also currently chairman of the board of Vornado Realty Trust.

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