Hedge fund manager William Ackman has resigned from the
board of J.C. Penney, bringing an end to an unusually public rift among
directors that had threatened the struggling company's turnaround efforts.
Ackman resigned Monday, J.C. Penney said in a statement Tuesday. The board is bringing
aboard former Federated Department Stores Inc. — now Macy's
— executive Ronald Tysoe and said it will name another new
director in the future.
