Vornado Chairman Resigns From JC Penney Board

Law360, New York (September 16, 2013, 3:00 PM EDT) -- Steven Roth, chairman of the board and CEO of behemoth REIT Vornado Realty Trust, has resigned from his post on J.C. Penney Co. Inc.'s board of directors, citing concerns about the retailer's financial struggles, according to a Friday regulatory filing.

Vornado announced in a filing with the U.S. Securities and Exchange Commission that Roth had stepped down on Friday, and that the company planned to review its interest in J.C. Penney.

“At a recent conference, Joseph Macnow, executive vice president [of] finance and chief administrative officer...
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