NEW YORK, United States — J.C. Penney Co. amended its agreement with Martha Stewart Living Omnimedia Inc. to a narrower range of products and said it would give up its seat on the homemaking maven’s board.
PLANO, United States — J.C. Penney said Wednesday that Saks Chairman and CEO Stephen Sadove is joining its board of directors. The department store operator also said that board member Geraldine B. Laybourne is leaving her post so that she can focus more on her role as chairman of technology company Kandu.
NEW YORK, United States — J.C. Penney shares are trading at their lowest level in nearly 13 years as the department stores' woes appear to be worsening.
PLANO, United States — William Ackman has resigned from J.C. Penney Co.'s board as part of a deal to resolve an unusually public battle between the activist investor and the struggling department store operator.
NEW YORK, United States — Perry Capital, the hedge-fund firm founded by Richard Perry, bought 7.3 percent of J.C. Penney Co. and asked the board to appoint a new chairman and chief executive officer, according to a letter sent to the company.