JC Penney Board Can’t Be 'Delusional': Ex-CEO
Publishing timestamp: 2013-03-06 19:48:18
Summary
Former JC Penney CEO Allen Questrom criticizes the current board of directors for believing that the struggling retailer can turn its fortunes around under CEO Ron Johnson. Questrom believes the board needs to take action quickly and questions the credibility of Johnson and Martha Stewart. JC Penney's largest shareholder, Pershing Square's Bill Ackman, continues to support Johnson, but there are reports that board members may consider replacing him if sales do not improve by the end of the year.
Sentiment: NEGATIVE
Keywords: business news, old copper company inc, vornado realty trust,
Source: https://www.cnbc.com/2013/03/06/jc-penney-board-cant-be-delusional-exceo.html