Tuesday, December 01, 2015
Current Weather
Loading Current Weather....
Published: Saturday, 8/10/2013 - Updated: 2 years ago

Hedge firm seeks new leaders at J.C. Penney

PLANO, Texas — Perry Capital, the hedge-fund firm founded by Richard Perry, bought 7.3 percent of J.C. Penney Co. and asked the board to appoint a new chairman and chief executive officer, according to a letter sent to the company.

“We believe that immediately appointing Allen Questrom chairman of the board and Ken Hicks CEO is imperative at this juncture, and we anticipate that the company’s various constituents would be highly supportive of such a change,” Perry said in the one-page letter sent to the J.C. Penney board Friday.

Recommended for You

Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.

Related stories