Land And Buildings Sends Open Letter On AEC Director Appointment

(RTTNews) - Land and Buildings Monday sent a public letter to Jeffrey Friedman, chairman and CEO of Associated Estates Realty Corp. (AEC), expressing disappointment on not considering their nominees to the board. Jonathan Litt in his letter said the decision to limit additions to the Board to only three new directors out of seven is to preserve the status quo. Litt said, the Board is dominated by incumbent directors who have overseen disappointing performance. The letter presented the Marcus Bromley, Michael DeMarco, Charles Elson, Dana Hamilton, Gregory Hughes, Jonathan Litt, Scot Sellers as the nominees to the Board.