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Gramercy eliminates vote requirement for early CEO removal

Gramercy PropertyTrust Inc.'s board unanimously approved an amendment to the company'sbylaws eliminating a provision requiring the affirmative vote of 70% of its independenttrustees to remove Gordon DuGan as CEO before Dec. 17, 2018.

DuGan sits on the board.

The board also set June 23 as the date of the 2016 annual shareholdermeeting, a change of more than 30 days from the anniversary of the 2015 meeting.