Envirotech Vehicles appoints Jason Maddox to board of directors
On Monday, Seritage Growth Properties (NYSE:SRG), a real estate investment trust with a market capitalization of $169 million, held its annual meeting of shareholders, where several key resolutions were put to vote. The company, which has seen its stock decline by 32% over the past six months according to InvestingPro data, convened on June 10, 2025, to address the election of trustees, ratification of the independent auditor, and an advisory vote on executive compensation.
In the election of trustees, all six nominees, John T. McClain, Adam Metz, Talya Nevo-Hacohen, Mitchell Sabshon, Allison L. Thrush, and Mark Wilsmann, were re-elected for another term. The election required a two-thirds majority of votes cast, which each trustee received.
Shareholders ratified the appointment of Deloitte & Touche LLP as the independent registered public accounting firm for the fiscal year 2025. This decision required a simple majority to pass.
However, the advisory resolution on executive compensation did not receive the same level of support. The proposal, which is non-binding, was rejected by the shareholders. This resolution required a majority of votes to pass but failed to achieve this threshold. The rejection comes as InvestingPro analysis shows the company maintaining strong liquidity with a current ratio of 4.52, despite challenging financial health metrics.
The company’s filing also included the standard business and contact information, as well as the SEC document and exhibit numbers relevant to the meeting. The detailed voting outcomes for each resolution were also provided in the filing.
This report is based on a press release statement and provides a factual summary of the events and outcomes of the annual meeting without any additional commentary or speculation.
In other recent news, Snam reported strong financial results for Q4 2024, with adjusted EBITDA increasing by 13.9% year-over-year to €2,753 million and net income rising by 10.4% to €1,289 million. The company also saw a 31% increase in total investments, reaching €2.9 billion, and has set a positive outlook with 2025 EBITDA guidance at €2.85 billion. Meanwhile, Seritage Growth Properties announced a leadership change, appointing Adam Metz as Interim CEO and President as part of its ongoing strategic downsizing. This shift aligns with the company’s Plan of Sale, which has reduced its portfolio from 160 to 15 properties since March 2022. The Seritage Board is in search of a permanent CEO, with Metz bringing significant real estate leadership experience to his interim role. The Board also expressed gratitude to outgoing CEO Andrea Olshan for her contributions, particularly in advancing the Plan of Sale and repaying over $1.3 billion of the company’s loan facility. Both companies continue to navigate strategic shifts in their respective industries, with Snam focusing on energy infrastructure expansion and Seritage on streamlining operations.
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