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Report: Ackman sticking with J.C. Penney
New York -- A Wednesday report by Women’s Wear Daily quoted activist investor Bill Ackman, whose Pershing Square Capital Management is the largest shareholder of J.C. Penney Co., as saying that he won’t abandon the retailer following this week’s CEO shake-up.
"We are not going anywhere," Ackman told WWD in his first public comments since Ron Johnson was fired as CEO on Monday. "In fact, we're going the other direction. We're digging in."
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American Eagle Outfitters names former Guess exec as Asia Pacific head
Pittsburgh -- American Eagle Outfitters said Wednesday it has named Kitty Yung to the position of EVP/president of Asia Pacific, charged with supporting the chain’s global geographic and channel growth “while aligning with our strategic plan of fortifying core assets, growing North America and transforming to a global omni-channel competitor …,” said Robert Hanson, CEO.