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LONDON - Pershing Square Holdings, Ltd. (LN:PSH) (LN:PSHD) announced today that its CEO, Bill Ackman, has resigned from the board of Universal Music Group N.V. (EURONEXT:AS:UMG), effective immediately following the company’s Annual General Meeting. Ackman’s departure comes as he shifts focus to increased responsibilities within Pershing Square, including his recent appointment as Executive Chairman of Howard Hughes Holdings Inc. (NYSE:HHH).
Ackman, who has served as a director on the UMG board for three years, expressed his satisfaction with the company’s growth from a private entity to a thriving public company. He commended the leadership of Sir Lucian Grainge and the UMG team for positioning the company for continued growth and profitability. Ackman also expressed his gratitude to his fellow board members for their dedication to enhancing shareholder value.
This move follows the May 5 announcement of Ackman’s new role at Howard Hughes Holdings, signaling a realignment of his professional commitments. Ackman’s involvement with Pershing Square, a closed-ended investment holding company, remains integral as he continues to manage the firm’s investment strategies.
The information regarding Ackman’s resignation is based on a press release statement from Pershing Square Holdings, Ltd.
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