PREIT Announces Results of Annual Meeting of Shareholders and Appointment of New Trustee
PHILADELPHIA--(BUSINESS WIRE)-- Pennsylvania Real Estate Investment Trust (NYS: PEI) announced the results of shareholder voting that took place during the Company's 2013 Annual Meeting of Shareholders held earlier today. Shareholders elected as trustees Joseph F. Coradino, M. Walter D'Alessio, Rosemarie B. Greco, Leonard I. Korman, Ira M. Lubert, Donald F. Mazziotti, Mark E. Pasquerilla, Charles P. Pizzi, John J. Roberts, George F. Rubin and Ronald Rubin, each to hold office until the 2014 Annual Meeting of Shareholders and until their respective successors have been duly elected and have qualified.
Charles P. Pizzi, a newly elected member to the Board of Trustees, was formerly the president and chief executive officer of Tasty Baking Company from 2002 through May 2011. Prior to that, he was president and chief operating officer of the Greater Philadelphia Chamber of Commerce. He is currently lending his expertise on a number of other corporate boards including Independence Blue Cross, Brandywine Realty Trust and PHH Corporation, among others, and is active in civic and community affairs, serving on the boards of Drexel University, the Ben Franklin Partnership and The Philadelphia Award.
With over 95% of the votes cast having been voted in favor, the Company's shareholders approved, on a non-binding advisory basis, the Company's executive compensation ("say on pay") as disclosed in the Proxy Statement. The Company determined last year that it will hold such an advisory vote on compensation annually, subject to change by further action of the Board.
Finally, the Company's shareholders ratified the Audit Committee's selection of KPMG LLP as the Trust's independent auditors for 2013.
Biographies of all trustees, information regarding executive compensation can be found in the Company's Proxy Statement for the 2013 Annual Meeting of Shareholders, which is available at www.preit.com.
About Pennsylvania Real Estate Investment Trust
Pennsylvania Real Estate Investment Trust, founded in 1960 and one of the first equity REITs in the U.S., has a primary investment focus on retail shopping malls. Currently, the Company's portfolio of 46 properties comprises 36 shopping malls, seven community and power centers, and three development properties. The Company's properties are located in 13 states in the eastern half of the United States, primarily in the Mid-Atlantic region. The operating retail properties have approximately 31 million total square feet of space. PREIT, headquartered in Philadelphia, Pennsylvania, is publicly traded on the NYSE under the symbol PEI. The Company's website can be found at www.preit.com.
Pennsylvania Real Estate Investment Trust
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KEYWORDS: United States North America Pennsylvania
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