Tag Archives: Allen Questrom

J.C. Penney Adopts “Poison Pill” Stockholder Rights Plan

J.C. Penney

PLANO, Texas-The J.C. Penney board of directors has adopted a stockholder rights plan generally referred to by the investment community as a “poison pill.” According to a filing with the U.S. Securities and Exchange Commission, the plan restricts any person or group from acquiring 10 percent or more of the retailer’s outstanding common stock, andMore »

JCP Board Fight Continues as Ackman Calls for New Chairman

Bill Ackman

PLANO, Texas-The struggle within J.C. Penney’s board of directors continued with Bill Ackman releasing a second letter to the board calling for the replacement of Thomas Engibous as chairman by Allen Questrom. The controversy is over the pace at which the board is searching for a CEO to succeed Myron “Mike” Ullman. In the secondMore »

JCP Board, Ackman in Fight Over CEO Search

JCP

PLANO, Texas-The search for a J.C. Penney CEO successor to Myron “Mike” Ullman has turned into a battle of words—which could lead to the possible return of Allen Questrom. Yesterday, activist investor Bill Ackman, whose investment firm, Pershing Square Capital Management, owns nearly 18 percent of the retailer’s outstanding shares, issued a letter to theMore »