J.C. Penney Board Member Resigns After Criticizing Management

Aug 13, 2013
Originally published on August 13, 2013 5:31 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.