A dissident shareholder won a crucial battle in its fight for boardroom representation at New York City REIT.
Institutional Shareholder Services recommended late Tuesday that investors vote their shares in favor of the nominee put forward by Comrit Investments, which wants to shake up NYC REIT after subpar performance.
If the candidate is elected at NYC REIT’s annual meeting late this month, it would be the first time since Covid-19 hit that a Manhattan office landlord has been forced to seat an unwanted director.
“The dissident has made a case for change,” said ISS, a consulting firm whose recommendations in board elections are widely followed. Voting real estate executive
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