Reginal Thomas
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Bill Ackman Resigns From JC Penny Board

After so much publicized drama Bill Ackman has decided to resign from JC Penny's (NYSE:JCP) board. Last week Ackman sent two numerous public letters to the board demanding they hire a new CEO to replace interim CEO Myron Ullman who replaced former CEO Ron Johnson, who coincidentally Ackman was help bring on board. 

Since 2010 Ackman has been the biggest share holder of JC Penny, but the stock has seen a 47% drop since that time. Ackman has taken a $600 million loss to date with his position, but with the new of his resignation the stock has seen a 4% rise today. Hopefully they can get things turned around now with Ackman out of the way and not making anymore noise.