ACC - American Campus Communities come to terms with activist investor Litt

American Campus Communities (ACC) agrees to refresh its board and appoints a new board chair after it held discussions with investor Land & Buildings Investment Management, the firm controlled by Jonathan Litt.ACC  has entered into a cooperation agreement, under which Land & Buildings will vote its shares in favor of all of ACC's board director nominees.Chairman Edward Lowenthal, who has been on the board for 16 years, will retire from the board at the 2021 annual meeting and will be succeeded by Cydney Donnell.In addition, Carla Piñeyro Sublett is stepping down from the Board, effective immediately, after accepting a new career opportunity.Meanwhile, Herman Bulls, Alison Hill, and Craig Leupold join the board, effective immediately.Bulls is currently vice chairman, Americas, at JLL; Hill is managing director, Strategic Capital, at Prologis; and Leupold serves as CEO of GSI Capital Advisors.Litt's firm acquired a stake in ACC in Q3 2020.

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American Campus Communities come to terms with activist investor Litt