MI Developments Inc. announces appointment of Chief Executive Officer
August 20 2004 - 6:16PM
PR Newswire (US)
MI Developments Inc. announces appointment of Chief Executive
Officer AURORA, ON, Aug. 20 /PRNewswire-FirstCall/ -- MI
Developments Inc. (TSX: MIM.A, MIM.B; NYSE: MIM) ("MID") today
announced the appointment of John Simonetti as the Chief Executive
Officer of MI Developments Inc. MID Chairman, Frank Stronach,
stated, "John Simonetti, who has been MID's Chief Financial
Officer, has been with MID since the beginning and is a ten year
veteran of the Magna companies. He has my full confidence and the
full confidence of the Board of Directors." Mr. Stronach will be
available for a media conference call on Monday, August 23, 2004 at
10:00 am EST. The number for North American callers is
1-800-814-4859. The number for overseas callers is 416-640-1907.
Please call 10 minutes prior to the start of the conference call.
MID will also webcast the conference call at
http://www.midevelopments.com/. For anyone unable to listen to the
scheduled call, the rebroadcast numbers will be: 1-877-289-8525
(North America) and 416-640-1917 (overseas). The reservation number
is 21091759 followed by the number sign and the rebroadcast will be
available until August 30, 2004. MID is a real estate operating
company engaged in the ownership, development, management, leasing
and acquisition of industrial and commercial real estate properties
located in North America and Europe. Virtually all of its
income-producing properties are under lease to Magna International
Inc. and its subsidiaries. MID also holds a controlling investment
in Magna Entertainment Corp. (TSX: MEC.A; NASDAQ: MECA), North
America's number one owner and operator of horse racetracks, based
on revenues, and one of the world's leading suppliers, via
simulcasting, of live racing content to the growing inter-track,
off-track and account wagering markets. DATASOURCE: MI Developments
Inc. CONTACT: Edward C. Hannah, Executive Vice-President, Corporate
Development, Secretary and General Counsel, Tel. (905) 726-7198
Copyright