Bill Ackman's exit from J.C. Penney's (JCP_) board of directors isn't a death knell for activist investing.
Ackman's departure from J.C. Penney comes after his hand-picked CEO Ron Johnson failed to turn around the struggling retail giant, and the hedge funder waged a losing war over the company's management and strategy. Many now wonder whether J.C. Penney can make it past the holidays, after spending hundreds of millions of dollars on a failed store revamp that drained the company's cash coffers.
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