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Teague Resigns From Post's Board

ATLANTA-The infighting this year over former chairman John Williams' unsuccessful attempt to regain control of the company also is blamed for the departure of J.C. Shaw and Bill Parker as directors emeritus, sources in a position to know tell GlobeSt.com. Atlanta Falcons owner Arthur Blank resigned as a director in May.

By Alex Finkelstein | Updated on September 05, 2003

ATLANTA-Barry Teague, a Post Properties Inc. director since February, has resigned and will form his own company to buy older Post apartment communities that are set for near-future auctions.

“The company’s strategy of repositioning the portfolio and selling older communities has the potential to trigger significant tax liability for me as a unit holder,” Teague says in a statement prepared by Post chairman Robert C. Goddard III.

Teague says he wants to be “in a position to manage my tax and estate planning needs by making offers on certain properties that the company intends to sell in the auction process.”

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