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Zell Takes Chairmanship of CWH Board

CHICAGO—The industry icon, who last chaired an office REIT in 2007, says the election of an all-new board means “we can get to work” on creating long-term value for shareholders.

By Paul Bubny | Updated on May 27, 2014

CHICAGO—The full slate of CommonWealth REIT trustees put forth by shareholders Related Fund Management LLC and Corvex Management LP has been elected. Led by industry icon Sam Zell as chairman, the new slate replaces the office REIT’s existing board, which a majority of shareholders voted to remove this past March. The REIT is now headquartered in Chicago, rather than Newton, MA, where erstwhile external manager REIT Management & Research LLC is based.

Along with Zell, CWH’s new board includes James Corl, Edward Glickman, David Helfand, Peter Linneman, Jim Lozier and Kenneth Shea. The new trustees were voted onto the board at a special shareholders’ meeting in Boston.

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