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Activist shareholder's chief investment officer elected to Taubman's board

Shareholders of retail real estate investment trust Taubman Centers Inc. elected Land & Buildings Investment Management LLC founder and Chief Investment Officer Jonathan Litt, along with the REIT's director nominees Mayree Clark and Michael Embler, to Taubman's board at their annual meeting.

The REIT had also nominated COO William Taubman to the board.

Shareholders did not approve Land & Buildings' proposal to eliminate the REIT's dual-class voting share structure, Taubman said in a release.