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Stock impact report

A top real estate CEO is retiring after 50 years—and just weeks after he was accused of hiding millions in self dealings [Yahoo! Finance]

Sun Communities, Inc. (SUI) 
Last sun communities, inc. earnings: 4/22 04:19 pm Check Earnings Report
US:NYSE Investor Relations: suncommunities.com/investor-relations
Company Research Source: Yahoo! Finance
traded real estate investment trust in and running the company since it went public in 1993. Just over a month ago, activist short seller Blue Orca accused Shiffman of taking part in undisclosed dealings with an independent board member's family. The board member, compensation committee chair Brian Hermelin, is also allegedly Shiffman's step cousin, per the short report published late September, as Fortune has previously reported According to a filing with the Securities and Exchange Commission, Shiffman told the other nine members of the Sun Communities board he wanted to retire from his role as chief executive—but he'll keep his seat on the board. Shiffman will also remain as CEO until the directors find a successor “to ensure a smooth transition,” the filing states. Sun Communities announced that it created a CEO Succession Planning Committee on Nov. 5, the same date Shiffman alerted the board about his intent to retire the executive role he's held since the company went public Show less Read more
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