New Board Member Named at Malan, Former Head of Company Sues

BINGHAM FARMS, MI – Malan Realty Investors Inc., a real estate investment trust (REIT) based here, recently announced that Edward T. Boutrous has been elected to the company’s board of directors. Boutrous, 54, is the managing member of The Boutrous Cos., LLC, in Auburn Hills, Michigan. The company is a developer of neighborhood shopping centers. The election of Boutrous expands the board of directors to seven members.

In other company news, Anthony Gramer, the former CEO and President who was fired in June, has filed a lawsuit in Oakland County Circuit Court against Malan, claiming he’s owed more than $1 million in salary and other costs. The board of directors of appointed Jeffrey D. Lewis as chief executive officer in October and former vice president Michael Kaline to president in August. The changes resulted after a proxy fight earlier this year ousted its board. The battle and a change of control agreement cost the company $3.4 million.