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BLOOMFIELD HILLS, MI-A board member has left a major shopping mall operator to take the top job at a major shopping mall retailer. Myron E. Ullman resigned his position on the Taubman Centers, Inc. board of directors after being named chairman and chief executive officer of JCPenney.
The resignation is effective immediately. Ullman says he took the step to avoid any appearance of conflict of interest, saying his new position would impair his ability to qualify as an independent director of Taubman Centers. Ullman joined the Taubman Centers board in April 2003. He was a member of the audit committee and chairman ofthe compensation committee.
"Mike has been an exemplary board member," says Robert S. Taubman, chairman, president and chief executive officer of Taubman Centers. "While we are sorry to see him leave, we look forward to continuing to work with him in his new capacity at JCPenney."
Bloomfield Hills-based Taubman Centers, Inc., owns or operates about 60 shopping malls across the country.
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