NEWTON, Mass.--(BUSINESS WIRE)--
CommonWealth REIT (NYSE: CWH) announced the results of its annual
meeting held yesterday as follows:
Shareholders approved, with 75% of all shares voted, a nonbinding,
advisory proposal approving the compensation paid to CWH's named
Shareholders approved, with 81% of all shares voted, the ratification of
the appointment of Ernst & Young LLP as CWH's independent registered
public accounting firm.
Mr. Joseph L. Morea received less than the majority of shares required
to be re-elected as an Independent Trustee. As a result, Mr. Morea
resigned from the Board. The Board determined that the insufficient vote
for Mr. Morea appeared not to be directed at any personal failings of
Mr. Morea, but rather to be the result of the positions taken by the
Board to oppose the hostile takeover efforts being pursued by Corvex
Management LP and Related Fund Management, LLC. In these circumstances,
and because the Board's determination that Mr. Morea's continued service
and leadership would be in the Trust's best interest, the Board
requested that Mr. Morea accept appointment to the vacancy created by
his resignation. Mr. Morea subsequently accepted appointment as an
CommonWealth REIT is a real estate investment trust, or REIT, which
primarily owns office buildings located throughout the United States.
CWH is headquartered in Newton, Massachusetts.
A Maryland Real Estate Investment Trust with transferable shares of
beneficial interest listed on the New York Stock Exchange. No
shareholder, Trustee or officer is personally liable for any act or
obligation of the Trust.
CommonWealth REIT Timothy A. Bonang, 617-796-8222 Vice
President, Investor Relations or Carlynn Finn, 617-796-8222 Senior
Manager, Investor Relations www.cwhreit.com