Activist investor Land & Buildings Investment Management withdraws its nomination of James Flaherty III for Brookdale Senior Living’s (NYSE:BKD) board after talking with other Brookdale investors.
“While we view the conditional nature of the board
chairmanship transition as the epitome of bad corporate governance, we
support Guy Sansone ultimately becoming chairman of the board,” said
Land & Building’s Jonathan Litt in a statement.
Litt said the firm will continue to monitor the situation at Brookdale and “take appropriate action as necessary.”
Previously: Brookdale calls activist investor’s nominee ‘unfit’ for board (Oct. 3)
https://seekingalpha.com/news/3504608-activist-investor-withdraws-nomination-brookdale-board
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