MI Developments announces resignation of Director
September 29 2008 - 5:35PM
PR Newswire (US)
AURORA, ON, Sept. 29 /PRNewswire-FirstCall/ -- MI Developments Inc.
(MID) (TSX: MIM.A, MIM.B; NYSE: MIM) today announced that Mr. John
Barnett has resigned from its Board of Directors, effective
immediately. Mr. Barnett stated, "I have enjoyed my association
with MI Developments, but must now turn my attention to ensuring
the orderly integration of Rothmans Canada with Philip Morris given
the recently-announced merger of those two companies. I wish my
Board colleagues all the best." Mr. Dennis Mills, MID's Vice
Chairman and Interim Chief Executive Officer, stated, "John has
worked extremely hard over the past two years as a director of MI
Developments at a time when he was also serving as the Chief
Executive Officer of Rothmans. On behalf of the Board, I want to
thank John for his efforts and wish him continued success." About
MID MID is a real estate operating company focusing primarily on
the ownership, leasing, management, acquisition and development of
a predominantly industrial rental portfolio for Magna International
Inc. and its subsidiaries in North America and Europe. MID also
acquires land that it intends to develop for mixed-use and
residential projects. MID holds a controlling interest in Magna
Entertainment Corp., North America's number one owner and operator
of horse racetracks, based on revenue, and one of the world's
leading suppliers, via simulcasting, of live horse racing content
to the growing intertrack, off-track and account wagering markets.
DATASOURCE: MI Developments Inc. CONTACT: about this press release,
please contact Dennis Mills, MID's Vice Chairman and Interim Chief
Executive Officer, at (905) 726-7619
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