Maguire To Add Four to Board

0

Maguire Properties Inc. said Tuesday that it plans to add four directors to its board in keeping with an agreement with its second-largest shareholder, JMB Capital Partners.


The new board members will be Cyrus Hadidi, Paul Watson, Jonathan Brooks and a JMB Capital nominee to be named later. Brooks is the founder and general partner of JMB Capital Partners, which holds a 9.7 percent stake in the Los Angeles-based real estate company.


As part of the agreement, JMB won’t seek any more board seats and won’t make proposals at Maguire’s annual meeting Oct. 2, Maguire said in a statement Tuesday


The company, which is Downtown’s largest landlord, is still searching for a potential suitor after the company’s founder, Robert F. Maguire III, quit in May after withdrawing his own bid to buy the company he founded.


Shares in Maguire were flat at $10.30 in early trading Tuesday.

No posts to display