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Bill Ackman selling entire stake in J.C. Penney
New York -- Hedge fund manager and activist investor William Ackman is selling his entire stake in J.C. Penney.
Ackman's Pershing Square Capital Management, Penney’s single biggest shareholder with an approximate 18% stake, is offering its roughly 39.1 million shares for sale and used Citigroup as the bookrunner for the deal, Reuters reported. Penney filed a prospectus for the sale.
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QVC reshuffles executive leadership
WEST CHESTER, Pa. — QVC is eyeing an increase in growth opportunities following the recent promotions of two key executives.
The company has promoted Alex Miller to the position of SVP of digital commerce and Dave Caputo to the position of SVP of TV production and operations. .
Miller, who will continue to report to Mary Campbell, SVP of multichannel platforms, will now be responsible for the customer experience across QVC's web, mobile, tablet and social platforms.