Perry Capital to ask J.C. Penney board to replace Ullman: CNBC

NEW YORK (Reuters) - Perry Capital LLC will ask the board of J.C. Penney to replace its interim chief executive, Mike Ullman, CNBC reported on Friday, citing sources familiar with the matter.

The New York-based hedge fund will file a 13-D regulatory filing with the Securities and Exchange Commission later on Friday asking J.C. Penney to immediately seek to name Allen Questrom as chairman and Ken Hicks as chief executive, CNBC said, citing sources familiar with the matter.

Perry Capital will report a roughly 7.3 percent stake in J.C. Penney, CNBC also said.

Thomas Engibous is currently the chairman of J.C. Penney.

(Reporting by Sam Forgione; Editing by Diane Craft and Leslie Adler)

Source: http://news.yahoo.com/perry-capital-ask-j-c-penney-board-replace-172026227.html

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