06:48 AM EDT, 05/14/2025 (MT Newswires) -- Pershing Square Holdings said Wednesday that CEO Bill Ackman will leave the board of Universal Music Group following the company's annual general meeting to work on Howard Hughes Holdings ( HHH ) .

Ackman's decision follows his recent appointment as executive chairman of Howard Hughes, alongside other obligations related to Pershing Square, the company said.

Ackman had been on the board since UMG's transition to a public company and cited time constraints as the reason for stepping down, Pershing Square said.