PLANO — The boardroom drama may be over, but J.C. Penney is still grappling with an uncertain future.
William Ackman has resigned from J.C. Penney’s board as part of a deal to resolve an unusually public battle between the activist investor and the struggling department store operator.
Ackman’s departure provides some short-term relief from a distraction for Penney while it tries to fix its ailing business and as the crucial back-to-school selling season heats up.