CommonWealth REIT, the U.S. office landlord whose second-largest investors are seeking to oust the board, said one of its trustees has been reappointed after failing to receive enough shareholder votes for election.
Joseph Morea resigned from the board after receiving less than the majority of votes required to be re-elected at CommonWealth’s annual meeting, the Newton, Massachusetts-based real estate investment trust said Wednesday in a statement. The board determined that the vote was the result of the company’s battle with investors Corvex Management LP and Related Cos. and not because of any personal failings, CommonWealth said.
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