The Inside Scoop on Shaking Up a Boardroom

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Aug. 13 (Bloomberg) -- Firebrand Partners Founder Scott Galloway discusses what it's like to be an activist investor on Bloomberg Television's "Street Smart." (Source: Bloomberg)

What is it like to be the lightning rod who goes into the board and said, ok, let's change it?

There are so many dynamics around the state of the company, so it changes from a really productive experience to something where you come out of there and think, that was just a soul sucking, terrible experience and i'd like to have it in my rearview mirror.

It spans the gamut.

What do you think that happens now at j.c. penney that ackman has stepped aside?

They need to get back to work and stop the strike show.

-- the sideshow.

Boards need to be valuable and recently, this board has become a liability.

They need to let those good people try to get back to work in what is a very big challenge for j.c. penney.

This is a difficult time for j.c. penney.

What is it like for someone like an ackman and having to position and sell your case?

How much selling goes on and how much plain old pressuring goes on?

What is the balance?

Selling its a lot easier when you can bring pressure to bear.

Specifically, it helps when you own 18% and i will not go on the board with a shareholder unless they are the largest shareholder.

It is nice to be the largest stake in the room.

It -- but by the way, he got a lot done.

He wanted a new ceo and he brought in his guide.

Ron johnson the and they started to remake the stores completely.

And it did not work.

That is what is so unusual.

He brought in his guy and it did not work out and any got angry again about the new ceo.

I what moral standing did he have to have input into picking the new ceo?

I think that is -- you think that is why he backed off?

This text has been automatically generated. It may not be 100% accurate.


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