– USA, FL – Consolidated-Tomoka Land Co. (NYSE: CTO), today announced the appointment of Laura M. Franklin to the Company’s Board of Directors. Ms. Franklin was with Washington Real Estate Investment Trust for twenty-two years until her retirement in 2015. Since 2007, Ms. Franklin held the position of Executive Vice President, Accounting and Administration and Corporate Secretary at Washington REIT. Prior to joining Washington REIT, Ms. Franklin was with the accounting firm CohnReznick. Ms. Franklin is a Certified Public Accountant, is a member of The National Association of Corporate Directors, and the American Institute of Certified Professional Accountants. Ms. Franklin also served as a director of KEEN USA and KEEN Greater DC, a non-profit organization that provides recreational opportunities for children and young adults with mental and physical disabilities.
As stated in the Company’s July 2016 earnings release, the Board intends to appoint two additional directors in 2016 placing a priority on candidates who qualify as Audit Committee financial experts under the Sarbanes-Oxley Act of 2002, and on candidates whose background and experience will complement that of the existing directors and bring additional diversity to the Board. The Board intends to appoint one additional director, in addition to Ms. Franklin, who also satisfies the aforementioned criteria.
Jeffry B. Fuqua, Chairman of the Board of the Company stated, “We are very pleased to welcome Laura to the Company’s Board.” Mr. Fuqua continued, “Laura’s knowledge and experience from over two decades as an executive officer of a public REIT align exceptionally well with the criteria established by the Board for directors.” Mr. Fuqua also noted, “With Laura’s appointment, and the intended appointment of one additional director, the size of our Board will increase temporarily to nine, however the Board intends to only nominate seven directors for election at our 2017 annual meeting of shareholders.”
About Consolidated-Tomoka Land Co.
Consolidated-Tomoka Land Co. is a Florida-based publicly traded real estate company, which owns a portfolio of income investments in diversified markets in the United States including over 1.5 million square feet of income properties, as well as approximately 10,500 acres of land in the Daytona Beach area.
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