J.C. Penney (JCP) Extends Losses Following CEO Shakeup
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Ackman Sticking with J.C. Penney (JCP) - WWD
April 10, 2013 4:00 PM EDTHedge fund manager Bill Ackman told WWD he plans to stick with his investment in J. C. Penney (NYSE: JCP). Comments follow the ousting of J.C. Penney CEO Ron Johnson on Monday that lead to further decline in the stock.... More
Ackman Not Giving Up on JCPenney (JCP)...Yet
April 10, 2013 7:46 AM EDTFollowing the ousting of Ron Johnson as CEO of retailer JCPenney (NYSE: JCP) earlier this week, some have been wondering whether or not hedge fund giant Bill Ackman, of Pershing Square, will stick with his massive investment in the company. Ackman, after all, pushed for current CEO Mike Ullman to be replaced in 2011, but the... More
JCPenney (JCP) Sales Fell 10%+ in Q1 - DJN
April 9, 2013 3:26 PM EDTJ.C. Penney Co., Inc. (NYSE: JCP) sales fell over 10 percent in Q1, according to Dow Jones headlines.... More
Ron Johnson's Legacy? Most Say They Never Shop at JCPenney (JCP)
April 9, 2013 1:48 PM EDTDoes it matter that Ron Johnson is no longer leading JCPenney (NYSE: JCP)?
The question was posed on the Yahoo! Finance homepage: "J.C. Penney dumped CEO Ron Johnson after 17 months on the job. How often do you shop at Penney?"
Unsurprisingly,... More
J.C. Penney (JCP) CEO Change Sounds Alarm on Wall Street; Deutsche Bank Comments
April 9, 2013 8:18 AM EDTYesterday J.C. Penney (NYSE: JCP) announced its CEO Ron Johnson stepped down and would be replaced my interim CEO Mike Ullman. Ullman's role will be to stabilize the retailer while the company searches for a permanent replacement.
Commenting on developments, Deutsche Bank analyst Paul Trussell warned investors about potential assets sales by Pershing Square and Vorando.
"Top shareholder and Board member Bill Ackman was a key proponent of ushering... More
J. C. Penney (JCP) Details Compensation of Incoming CEO Ullman; Will Get $1M Salary
April 8, 2013 5:39 PM EDTOn April 8, 2013, J. C. Penney Company, Inc. (NYSE: JCP) issued a press release announcing that Ron Johnson is stepping down and leaving the Company as Chief Executive Officer and a member of the Board of Directors. Mr. Johnsons departure is not the result of any disagreement with the Company or the Board of Directors on any matter relating to the Companys operations, policies or practices. (c) On April 8, 2013, the Company announced that Myron E. Ullman, III, 66 will serve as the Companys Chief Executive Officer, effective immediately. Mr. Ullman previously served as... More
J.C. Penney (JCP) Throws Ron Johnson Overboard and Brings Back Mike Ullman
April 8, 2013 5:23 PM EDTShares of J.C. Penney (NYSE: JCP) were whipsawed after-hours on Monday on reports that the company's CEO Ron Johnson was "out". Ron Johnson came to J.C. Penny from Apple and was once hailed as J.C. Penney's savior. That notion was... More
UPDATE: JCPenney (JCP) Appoints Mike Ullman as CEO, Succeeding Ron Johnson
April 8, 2013 5:18 PM EDT(Updated - April 8, 2013 5:20 PM EDT)
The Board of Directors of J.C. Penney Company, Inc. [NYSE: JCP], today announced that Myron E. (Mike) Ullman, III has rejoined the Company as Chief Executive Officer, effective immediately. He has also been elected to the Board of Directors. Mr. Ullman is a highly accomplished retail industry executive, who served as CEO of jcpenney until late 2011. He succeeds Ron Johnson, who is stepping down and leaving the Company.
Thomas Engibous, Chairman of the Company's Board of Directors, said, "We are fortunate to have someone with Mike's proven experience and... More
JCPenney (JCP) CEO Ron Johnson is Out - CNBC
April 8, 2013 5:00 PM EDTCNBC is saying that J.C. Penney Co., Inc. (NYSE: JCP) CEO Ron Johnson is no longer with the company. Sources familiar with the situation were cited on the information.... More
