Penney Board Members Get a Vote of Confidence

So much for accountability in corporate governance. According to the DMN‘s Maria Halkas, every member of the J.C. Penney board that presided over the company’s spectacular recent meltdown has been re-elected to his or her cushy post. This apparently includes New York hedge-fund mogul William Ackman, who pushed to hire the failed ex-CEO Ron Johnson, as well as several board members from North Texas. All of the members have been compensated handsomely for their, er, leadership qualities at the Plano-based retail chain. Among the locals are ex-TI CEO Tom Engibous, the board chair, whose 2012 compensation was $328,702; Colleen Barrett, president emeritus of Southwest Airlines ($225,012); and R. Gerald Turner, president of Southern Methodist University ($235,012).