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New York REIT replaces outgoing independent director

New York REIT appointed Joe McKinney to its board as an independent director, effective immediately.

McKinney's appointment comes after the retirement of Robert Burns, who had served as an independent director since October 2009.

McKinney previously served as chairman and CEO at JPMorgan Chase Bank-San Antonio and said in a release that he would work as "quickly and efficiently as possible" to effect the REIT's proposed liquidation and dissolution plan, which was recently approved by New York REIT shareholders.