Ackman pushes for Penney chairman to go

NEW YORK • The battle over J.C. Penney’s future just got uglier. Activist investor Bill Ackman said Friday he has lost confidence in J.C. Penney’s board and its chairman should be replaced. Penney Chairman Thomas Engibous fired back and called Ackman’s comments inaccurate. The statement adds more fuel to an unusually public squabble between Ackman, whose company Pershing Square Capital has a nearly 18 percent stake in the company, and the rest of J.C. Penney’s board. The disagreement is over how...

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