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

February 11th, 2011
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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.

Bill Ackman’s deep-value focused hedge fund firm has been involved in a number of high profile activist campaigns in the past. Most notable are the ones against McDonald's, Visa, and Wendy's, as well as his failed attempt in 2009 to shake-up Target Corp’s board.

J.C. Penney’s board had previously announced its plans to elect Bill Ackman and Steven Roth on January 24 of this year.
For Detailed Investor Profiles on these Investors, click below:
Pershing Square Capital Management
Related People: Nicholas Botta; Roy J. Katzovicz; Scott Ferguson*; William 'Bill' Ackman
Related Entities: Leucadia Corporation (NYSE: LUK); Pershing Square Capital; Pershing Square IV; Pershing Square LP
Related Article Tags: Shareholder Activists, Corporate Raiders and Proxy Battles

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