Bow Street Calls for Removal of Mack-Cali CEO Michael DeMarco; Nominates Four Additional Highly-Qualified Director Candidates to the Board
Mack-Cali Realty Corporation (CLI)
Last mack-cali realty corporation earnings: 2/26 07:36 pm
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Source: Business Wire
Issues Open Letter to Shareholders Highlighting Mack-Cali’s Failure to Uphold Commitments Made at 2019 Annual Meeting CEO Michael DeMarco has Repeatedly Thwarted Strategic Interest in Mack-Cali and Misled Shareholders; Mack-Cali has Underperformed RMZ by ~3,400bps Throughout his TenureFurther Change Required in Boardroom to Maximize Shareholder Value NEW YORK--(BUSINESS WIRE)--Bow Street LLC (“Bow Street”), a New York-based investment firm that beneficially owns approximately 4.5% of the outstanding shares of common stock of Mack-Cali Realty Corporation (“Mack-Cali” or the “Company”) (NYSE: CLI), today issued an open letter to Mack-Cali shareholders calling for the removal of CEO Michael DeMarco and the election of four additional new directors to the Board of Directors (the “Board”).Since the 2019 Mack-Cali annual meeting, at which shareholders overwhelmingly elected Bow Street’s full slate of four independent director candidates, it has become clear that a change in leadership at
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