Content about Vornado Realty Trust

September 13, 2013

Vornado Realty Trust chairman and CEO Steven Roth has resigned from J.C. Penney’s board of directors, according to a Reuters report.

Vornado Realty Trust chairman and CEO Steven Roth has resigned from J.C. Penney’s board of directors, according to a Reuters report. 

The article went on to say that Vornado, which owns office buildings and retail properties in New York and Washington, took a 9.9% stake in Penney at the same time that Bill Ackman's Pershing Square Capital Management bought a 16.5% stake in 2010 to push for big changes at the company.

September 13, 2013

Vornado Realty Trust chairman and CEO Steven Roth has resigned from J.C. Penney’s board of directors, according to a Reuters report.

Vornado Realty Trust chairman and CEO Steven Roth has resigned from J.C. Penney’s board of directors, according to a Reuters report. 

The article went on to say that Vornado, which owns office buildings and retail properties in New York and Washington, took a 9.9% stake in Penney at the same time that Bill Ackman's Pershing Square Capital Management bought a 16.5% stake in 2010 to push for big changes at the company.

April 9, 2013

Myron E. (Mike) Ullman has rejoined Penney as CEO, effective immediately, replacing Ron Johnson, who is leaving the company.

NEW YORK — Myron E. (Mike) Ullman has rejoined Penney as CEO, effective immediately, replacing Ron Johnson, who is leaving the company. Ullman, who served as CEO of Penney until late 2011, has also been elected to the board of directors.

Johnson’s departure was not all that unexpected given the chain’s mounting losses and sales declines. But it was still a stunning reversal of fortune for the former golden boy of Apple, who left the tech giant amid great fanfare for the top job at Penney.

March 5, 2013

JCPenney Co. last Tuesday dominated the retail news as its shares dropped 10.6% to a four-year low after reports that one of its largest shareholders had sold a chunk of the troubled company’s stock.

NEW YORK — JCPenney Co. continues to dominate the retail news as its shares dropped 10.6% yesterday to a four-year low after reports that one of its largest shareholders had sold a chunk of the troubled company’s stock. And in a late afternoon report, The Wall Street Journal said that a group of Penney directors is ready to get rid of CEO Ron Johnson, or push to sell the chain unless he can stop the company’s heavy bleeding this year.

January 24, 2011

Activist investor and hedge fund executive Bill Ackman has accomplished at J.C. Penney what he was unable to do at Target. He secured a seat on the department store retailer’s board after purchasing a bunch of shares and will now be able to push for strategies to increase shareholder value. Joining Ackman on the J.C. Penney board is another large shareholder, Steven Roth, chairman of Vornado Realty Trust. Both men joined the company as it announced plans to close five stores, wind down its catalog business, realign call center operations and reorganize a custom decorating business.

Activist investor and hedge fund executive Bill Ackman has accomplished at J.C. Penney what he was unable to do at Target. He secured a seat on the department store retailer’s board after purchasing a bunch of shares and will now be able to push for strategies to increase shareholder value. Joining Ackman on the J.C. Penney board is another large shareholder, Steven Roth, chairman of Vornado Realty Trust.

January 24, 2011

Activist investor and hedge fund executive Bill Ackman has accomplished at J.C. Penney what he was unable to do at Target. He secured a seat on the department store retailer’s board after purchasing a bunch of shares and will now be able to push for strategies to increase shareholder value. Joining Ackman on the J.C. Penney board is another large shareholder, Steven Roth, chairman of Vornado Realty Trust. Both men joined the company as it announced plans to close five stores, wind down its catalog business, realign call center operations and reorganize a custom decorating business.

Activist investor and hedge fund executive Bill Ackman has accomplished at J.C. Penney what he was unable to do at Target. He secured a seat on the department store retailer’s board after purchasing a bunch of shares and will now be able to push for strategies to increase shareholder value. Joining Ackman on the J.C. Penney board is another large shareholder, Steven Roth, chairman of Vornado Realty Trust.