Bill Ackman steps down from Universal Music Board

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Pershing Square Holdings (OTCPK:PSHZF) Wednesday said that Bill Ackman, CEO of PSH’s Investment Manager Pershing Square Capital Management, has resigned from the Board of Universal Music Group N.V. (OTCPK:UMGNF).

Universal Music shares fell 3% in Amsterdam after Ackman’s resignation announcement. However, the stock is