Business Services Industry
Rumblings.(includes Taubman Centers Inc. board seat may be available)
Crain's Detroit Business, March, 2003
Is Taubman's old board seat still available? Could A. Alfred Taubman's old seat on the board of Taubman Centers Inc. still be available? Taubman resigned from the board Dec. 11, 2001, less than a week after he was found guilty of federal price-fixing charges as chairman of New York City-based Sotheby's Holdings Inc.
His term would have expired last May. He was never replaced on the board of the company he founded because holders of series-B shares, mostly Taubman family members, waived the company's nine-member board requirement. That waiver expires today, and a company spokesman told Crain's, ``The board will take appropriate action.'' Taubman Centers says three board seats expire this year, but Simon Property Group Inc. has nominated four candidates...
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