Austin, Texas — American Campus releases comments on Joseph M. Macchione's departure.
Austin, Texas — American Campus Communities has announced Joseph M. Macchione declined to stand for re-election to the board of directors due to time demands of his business activities. When the annual meeting of stockholders convenes on May 3, the size of the board will be reduced to six members. The board may determine to add one or more additional members in the future.
"All of the members of the board were very sorry to learn of Joe's decision," said Bill Bayless, American Campus CEO.
"Joe has been involved with American Campus since we acquired GMH Communities Trust in 2008 and has supported the company's dramatic growth. I will personally miss his expertise as a contributing member of our board."
"All of the members of the board were very sorry to learn of Joe's decision," said Dan Burck, American Campus board chairman. "We would like to sincerely thank Joe for his valuable contributions, support and sound advice as a key member of the board. We wish Joe great success."
Joe Macchione commented, "I am proud of how the company integrated GMH Communities and am grateful to have had the opportunity to participate in the company's growth and success and work with one of the most energetic and committed management teams I have ever encountered. I am truly going to miss my ongoing board involvement."