Home / Knowledge / News / Apparel/Garments / JCPenney adds Ackman, Roth to board
JCPenney adds Ackman, Roth to board
Jan '11
J. C. Penney Company Inc announced that its Board of Directors agrees to name William A. Ackman, founder and CEO of Pershing Square Capital Management, and Steven Roth, chairman of the board of Vornado Realty Trust, as directors.

They are expected to be elected by the time of the Company's Board of Directors meeting on Feb. 22, 2011, which would expand the size of the Board from 11 to 13 members. The Board also expects to appoint an additional director in the near future.

Pershing Square and Vornado are among the Company's largest shareholders and Mr. Ackman and Mr. Roth have expertise in areas of relevance to JCPenney's business.

Myron E. (Mike) Ullman, III, chairman and chief executive officer of JCPenney, said, "We welcome Bill and Steve to the Board. They share our passion for operational excellence and are committed to enhancing value for all of the Company's shareholders. We look forward to benefitting from their expertise."

William A. Ackman, 44, is the founder and CEO of Pershing Square, which has invested in retailers including Sears Holdings, Target Corp., and McDonald's, among others, consumer brand companies including Fortune Brands and Kraft Foods, and real estate companies including shopping mall owner General Growth Properties, where Mr. Ackman recently served as a director. He is currently chairman of the Howard Hughes Corporation, a real estate development company, which was spun off of General Growth Properties in November of 2010.

Steven Roth, 69, is chairman of the board of Vornado, where he served as CEO from 1981 to 2009. In addition to his deep experience in real estate, throughout the course of his career Mr. Roth has invested in retailers, including Toys"R"Us, Alexander's, McDonald's, Sears Holdings Corp. and Sears Canada Inc. Mr. Roth is Chairman and CEO of Alexander's Inc., a REIT investing in New York properties, and Managing General Partner at Interstate Properties.

J. C. Penney Company Inc

Must ReadView All

Union textiles minister Smriti Irani addressing at the Texprocil Annual Export Awards. Courtesy: PIB

Textiles | On 22nd Oct 2016

Govt to extend special package to home textiles segment

The Central government is likely to extend the recently approved Rs...

Reebok Liquid Speed Grey. Courtesy: Business Wire

Apparel/Garments | On 22nd Oct 2016

Reebok’s Liquid Factory brings sneaker creation to US

Reebok, a pioneer in the sporting goods industry, has brought sneaker ...

Courtesy: GHCL

Textiles | On 22nd Oct 2016

GHCL to invest Rs 67.25 crore in textile division

Chemicals and textiles firm GHCL will invest Rs 67.25 crore in its...

Interviews View All

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Abhimanyu Singh Rathore & Barbara Anna Kosiorek

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Marcel Alberts

Coating at a fibre level is a practice not usually seen in the...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search