William Ackman is a hedge fund manager who owned a large share of J.C. Penney stock. He was also a member of the Penney board. He tried to get the CEO fired,but the board and top management said he breached his boardroom duties when he publicly disclosed information on the CEO search and financial condition of the company. He resigned from the board of directors. This is an example of a contentious relationship between

Question

Quizplus · Accepted Answer

This is an example of a contentious relationship between the capital market stakeholders (represented by William Ackman as a hedge fund manager) and the organizational stakeholders (represented by the board and top management of J.C. Penney). The dispute arose over the CEO search and financial condition of the company, which are both important factors for the capital market stakeholders who are primarily concerned with financial returns on their investment. The organizational stakeholders, however, may have different priorities such as maintaining the company's reputation and long-term growth prospects.

William Ackman Is a Hedge Fund Manager Who Owned a Large