Post Properties Announces Annual Meeting Voting Results and Appointment of Dale Reiss as a New Independent Director
16 Ottobre 2008 - 11:01PM
Business Wire
Post Properties, Inc. (NYSE: PPS) announced today the results of
the votes taken at its Annual Meeting of Shareholders held on
October 16, 2008. Shareholders elected the Board�s nine nominees,
ratified the appointment of Deloitte & Touche LLP as the
Company�s independent registered public accountants for 2008 and
approved the Amended and Restated Post Properties, Inc. 2003
Incentive Stock Plan. The Board of Directors also announced today
the appointment of Ms. Dale Anne Reiss, recently retired as the
Global Director of Real Estate, Hospitality and Construction
Services for Ernst & Young LLP. Ms. Reiss was a senior partner
at Ernst & Young LLP from 1995 through 2008, and a managing
partner at its predecessor, Kenneth Levanthal & Company, from
1985 through its merger with Ernst & Young in 1995. Ms. Reiss
is a Certified Public Accountant and received a B.S. degree in
economics and accounting from the Illinois Institute of Technology
and an M.B.A. degree from the University of Chicago. The
appointment was unanimously recommended by the Company�s nominating
committee, which is comprised solely of independent directors and
is chaired by Walter M. Deriso, Jr. Ms. Reiss has also been
appointed to the Audit and Nominating and Corporate Governance
Committees of the Board. Ms Reiss� appointment satisfies the
Company�s obligations to Pentwater Capital Management LP and the
Pentwater Growth Fund Ltd. to appoint a new director mutually
agreeable to the Company and Pentwater. Robert C. Goddard, III, the
Chairman of the Board, said, �We are delighted that Dale Reiss has
agreed to join the Board. Ms. Reiss is a highly respected real
estate industry professional who brings a wealth of knowledge and
insight to Post. The addition of another independent director with
the stature, experience and financial background of Ms. Reiss will
further enhance the depth of our Board and reflects our commitment
to the highest standards of corporate governance.� About Post
Properties Post Properties, founded more than 36 years ago, is one
of the largest developers and operators of upscale multifamily
communities in the United States. The Company�s mission is
delivering superior satisfaction and value to its residents,
associates, and investors, with a vision of being the first choice
in quality multifamily living. Operating as a real estate
investment trust (�REIT�), the Company focuses on developing and
managing Post� branded resort-style garden and high density urban
apartments. In addition, the Company develops high-quality
condominiums and converts existing apartments to for-sale
multifamily communities. Post Properties is headquartered in
Atlanta, Georgia, and has operations in ten markets across the
country. Post Properties owns 21,890 apartment homes in 60
communities, including 1,747 apartment units in five communities
held in unconsolidated entities and 1,736 apartment units in five
communities currently under construction and/or in lease-up. The
Company is also developing and selling 514 for-sale condominium
homes in four communities and is converting apartment units in two
communities initially consisting of 349 units into for-sale
condominium homes through a taxable REIT subsidiary.
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