More than a decade ago in the seminal case
Gantler v. Stephens,
1 the Delaware Supreme Court clarified that officers of Delaware corporations owe the same fiduciary duties of care and loyalty that directors owe to the corporation and its stockholders.
While directors and officers owe the same fiduciary duties, they are not entitled to the same defenses. Section 102(b)(7) of the Delaware General Corporation Law (DGCL) permits a corporation to adopt a provision in its certificate of incorporation exculpating directors from money damages for breaches of the duty of care. Those provisions, which are routinely adopted by Delaware corporations, do not apply to corporate officers.
Public Storage Appoints Three New Independent Trustees
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Public Storage Appoints Three New Independent Trustees – IT Business Net
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ADDING and REPLACING Public Storage Appoints Three New Independent Trustees
Shankh Mitra, David Neithercut, and Paul Williams Bring Significant Financial, Real Estate Investing, and Corporate Governance Expertise and Leadership Experience
GLENDALE, Calif.–(BUSINESS WIRE)–Add after last paragraph of release: “Additional Information” and “Certain Information Regarding Participants” sections.
The updated release reads:
PUBLIC STORAGE APPOINTS THREE NEW INDEPENDENT TRUSTEES
Shankh Mitra, David Neithercut, and Paul Williams Bring Significant Financial, Real Estate Investing, and Corporate Governance Expertise and Leadership Experience
Public Storage (NYSE:PSA) announced today the appointment of three new members to its Board of Trustees, effective January 1, 2021, including:
Shankh Mitra, Chief Executive Officer, Chief Investment Officer and director of Welltower Inc.
Stord raises $31M; Atlanta venture fund aims to fill void - Atlanta Business Chronicle
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