J.C Penney rallies off of CEO search, Questrom in the mix?

It's somewhat unclear why news J.C. Penney (JCP +6.6%) plans to step up its search for a new CEO warrants a 6.5% jump in share price, but there it is nonetheless.

A letter from Pershing Square's Bill Ackman reportedly hints former-CEO Allen Questrom is up for the job - a choice that a number of retail analysts think makes sense.

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Comments (5)
  • hansonmt
    , contributor
    Comments (13) | Send Message
    Questrom is a tremendous leader and a true merchant. It would be outstanding if he served as chairman. However, I believe it is in the best interests of the company to allow Ullman more time to right the ship as he is working to return many fundamental core offerings and processes to the business. Another new CEO at this point will introduce another set of ideas and confusion, which is the last thing the company needs at this point. While he has significicant leverage due to his fund's ownership stake Ackman and the board may need to rethink moving Ullman on too quickly.
    8 Aug 2013, 03:47 PM Reply Like
  • Kraken
    , contributor
    Comments (567) | Send Message
    If Ackman wants to save JCP, he needs to stop getting involved. This guy is like the Jerry Jones of retail. He increased the decline in JCP when he hired Ron Johnson.
    8 Aug 2013, 04:00 PM Reply Like
  • layzredfox
    , contributor
    Comments (28) | Send Message
    Bill Ackman and Ed Lampert need to sit down, compare notes on how they've pretty much tried to kill brick and mortar retail, and decide what they need to do to complete the task.


    I've never understood the logic that merging two money losing companies would create one viable one. Maybe if they add JCP to the mix they can get it right.
    8 Aug 2013, 04:21 PM Reply Like
  • Alejandro43
    , contributor
    Comments (107) | Send Message
    Folks, I just want to say one word to you. Listening? JCPenny. There is great future in it.
    8 Aug 2013, 04:23 PM Reply Like
    , contributor
    Comment (1) | Send Message
    As a Buyer for JCP in the 60's,34 and 52nd Hq. I worked for the most respected Co of that time. Respected by our Vendors(Partners) and our Customers. The company would be well served by leaders who will return JCP to its roots. Quality merchandise at a fair price. Even today's customers will respond to this old approach. Vendor loyality is key to offering quality merchdise at a fair price. The leaders of JCP need to review the past(60's) and use it as a guide for the successful future of JCP.
    8 Aug 2013, 05:36 PM Reply Like
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