Vornado's Chairman Resigns From J.C. Penney Board

Vornado Realty Trust Chairman and Chief Executive Steven Roth has resigned from the board of J.C. Penney. Vornado, which owns 6.1 percent of Penney shares, said at an investor conference earlier this week that it planned to sell all of its 13.4 million Penney shares "in the not too distant future."
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