Franklin Street Properties Corp. announced the appointment of Bruce J. Schanzer to its Board of Directors, effective November 27, 2024. Mr. Schanzer will also serve as a member of the Audit Committee, enhancing the board's oversight capabilities.
With this addition, the Board will be comprised of eight directors, with seven of them being independent. George J. Carter, Chairman and CEO, stated that this appointment is part of refreshing the Board to ensure diverse perspectives and skills.
In connection with these changes, the company entered into a Cooperation Agreement with Converium Capital and Erez Asset Management, both significant FSP shareholders. Under this agreement, the activist investors will vote their shares in favor of all Board director nominees at the 2025 Annual Meeting of Stockholders.
Bruce J. Schanzer is the Chairman and Chief Investment Officer of Erez Asset Management, a fund manager focused on investment opportunities in small market cap REITs. His prior experience includes serving as President, CEO, and director of Cedar Realty Trust and a managing director at Goldman Sachs & Co.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.