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Another large JC Penney shareholder calls for new CEO, now

Friday, 9 Aug 2013 | 12:52 PM ET

JC Penney shareholder Perry Capital intends to demand that the company replace CEO Mike Ullman immediately.

Perry holds a 7.3 percent stake in Penney, and its push comes one day after board member Bill Ackman said he too wanted the company to move faster on replacing Ullman.

The firm is expected to make a regulatory filing later Friday with its full list of demands.

Earlier Friday, Ackman demanded that Penney's board convene a meeting immediately and also replace Chairman Thomas Engibous.