Meditrust Announces Board Changes
PR Newswire - June 28, 1999 16:17
NEEDHAM HEIGHTS, Mass., June 28 /PRNewswire/ -- The Meditrust Companies (NYSE: MT), consisting of Meditrust Corporation, a real estate investment trust (REIT), and Meditrust Operating Company, today announced the resignation of the following members of Meditrust's boards of directors: Nancy G. Brinker, C. Gerald Goldsmith, and Thomas J. Magovern. Additionally, Donald J. Amaral and Gerald Tsai, Jr. have decided not to stand for re-election to the boards at the Annual Meetings of Shareholders, scheduled to be held on July 8, 1999. This reduction in the size of The Companies' boards is consistent with Meditrust's comprehensive restructuring plan that resulted in a streamlined focus on the healthcare and lodging businesses.
The Meditrust board members are: Thomas M. Taylor, chairman; William C. Baker; David F. Benson; Edward W. Brooke; William G. Byrnes; John C. Cushman, III; James P. Conn; and Stephen E. Merrill.
Thomas M. Taylor, chairman of the boards of directors of The Meditrust Companies, said, "Meditrust appreciates the past service given by our departing board members. After completing the majority of asset sales, settling our forward equity transaction, and paying down debt, it was determined that it would be most appropriate to move forward with a smaller board as the Companies prepare for the separation of healthcare and lodging. On behalf of Meditrust, I would like to thank the outgoing directors and wish them well in their future endeavors."
The Meditrust Companies, with headquarters in Needham Heights, Massachusetts, consists of Meditrust Corporation, a real estate investment trust (REIT), and Meditrust Operating Company. Today's news release, along with other news about The Meditrust Companies, is available on the Internet at reit.com. |
