Cedar Realty (NYSE:CDR) Trust, Inc., a real estate investment trust, announced today the appointment of Gary Skoien as a new independent director to its board. This decision was made by the Board of Directors of Wheeler Real Estate Investment Trust, Inc., which is the sole common stockholder of Cedar Realty Trust .
Gary Skoien, who currently serves as Chairman of the Board, President, and CEO of Horizon Group Properties, Inc., brings a wealth of experience to the table, having previously held executive roles at The Prime Group and other notable organizations. His extensive background includes strategic planning and management in retail real estate, as well as public sector experience with the Illinois Capital Development Board and as an Assistant to the Illinois Governor.
Mr. Skoien's appointment is effective immediately and he will serve until the next annual meeting of the company's sole common stockholder or until his successor is elected. The company has confirmed that Skoien meets the independence criteria set by the New York Stock Exchange and the SEC.
In line with the company's policy for non-employee directors, Mr. Skoien will receive compensation as outlined in the definitive proxy statement filed with the SEC on March 22, 2024. There are no other arrangements or understandings between Mr. Skoien and any other persons related to his appointment, and he has no material direct or indirect interest in any transaction with the company that would require reporting under SEC regulations.
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