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4 months ago
Activist investor asks Taubman shareholders to vote for its board nominees
April 19, 2017 / 12:50 PM / 4 months ago

Activist investor asks Taubman shareholders to vote for its board nominees

April 19 (Reuters) - Activist investor Land and Buildings Investment Management LLC has urged Taubman Centers Inc's shareholders to elect the hedge fund's board nominees.

The move comes six months after Land and Buildings asked the shopping centers owner to explore strategic options, including a sale or a spin-off of certain assets.

Land and Buildings said it was seeking to replace two directors, Chief Executive Robert Taubman and Lead Director Myron Ullman, who "have failed to represent the best interests of shareholders."

Last month, Land and Buildings nominated its founder and CEO, Jonathan Litt, and Charles Elson, director of the John L. Weinberg Center for Corporate Governance at the University of Delaware, to the board of Taubman. (Reporting by Arunima Banerjee in Bengaluru; Editing by Maju Samuel)

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