GERMANTOWN, Tenn., March 26,
2024 /PRNewswire/ -- Mid-America Apartment
Communities, Inc., or MAA (NYSE: MAA), today announced the
retirement of Toni Jennings from the
Board of Directors, effective immediately preceding the
May 21, 2024 Annual Meeting of
Shareholders. This planned transition aligns with the board's
retirement policy and refreshment strategy. In conjunction with Ms.
Jenning's departure, the Board of Directors has approved a
reduction in the number of authorized directors to 12.
Eric Bolton, Chairman of the
Board, expressed appreciation for Ms. Jenning's substantial
contributions stating, "Toni's combined tenure spanning
approximately 12½ years, encompassing both Post and MAA, has been
immensely valuable and impactful to our growth and success. We
extend our gratitude for her dedicated representation of our
shareholders' interests and wish her the best in her future
endeavors."
The Nominating and Corporate Governance Committee, in
collaboration with the Board of Directors, continuously maintains
and executes director succession and refreshment strategies. In
anticipation of Ms. Jenning's departure, along with future planned
retirements, the Board of Directors nominated three new directors
for election at the 2023 Annual Meeting of Shareholders. This
proactive measure temporarily increased the size of the board to 13
to allow for a seamless transition. Under the current succession
strategy, we expect to further reduce the size of the board in
coming years.
About MAA
MAA is a self-administered real estate
investment trust (REIT) and member of the S&P 500. MAA owns or
has ownership interest in apartment communities primarily
throughout the Southeast, Southwest and Mid-Atlantic regions of the
U.S. focused on delivering strong, full-cycle investment
performance. For further details, please refer to the "For
Investors" page at www.maac.com or contact Investor Relations at
investor.relations@maac.com.
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SOURCE MAA