Williams' prepared statement that Edward Lowenthal, a co-founder of New York-based Wellsford Residential Trust, has agreed to head Post if Williams wins is being dismissed by Post directors.
Lowenthal, 58, and Douglas C. Crocker III, 62, another Williams favorite, are directors of New York-based Wellsford Real Properties Inc., formed as a subsidiary of Wellsford Residential Trust. The trust merged with Chicago-based Equity Residential in 1997 according to Wellsford's Web site.
In their own prepared statement, the company says, "Mr. Williams' announcement regarding Mr. Lowenthal confirms our view that the prospect of Mr. Williams returning as CEO has been viewed very negatively by shareholders."
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