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J.C. Penney shares jump on report of push for permanent chief

from The New York Times

William A. Ackman isn't happy with the status quo of J.C. Penney once more — and that has made other shareholders in the struggling department store chain fairly pleased. Shares of Penney were up about 6 percent in early afternoon trading on Thursday, after CNBC reported that Ackman has written a letter to his fellow board members urging them to speed up a search for a permanent chief executive. He suggested that the directors could find a new leader within 30 to 45 days. more


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