First Capital REIT names new board chair in face of dissident calls for change

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First Capital REIT names new board chair in face of dissident calls for change
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REIT says chair Bernard McDonell, who has been a trustee since 2007, has retired from the board, effective immediately

after activist investors launched campaigns for new leadership at one of the country’s largest shopping mall owners.

The REIT said chair Bernard McDonell, who has been a trustee since 2007, has retired from the board, effective immediately. In the press release Tuesday, Mr. Douglas said: “I fully believe in the management team, the optimization plan and the direction the company is taking.”

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