MI Developments announces departure of officers

^{Published on 2011-07-14 17:20:22 - Market Wire}
 

MI Developments announces departure of officers

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TORONTO, July 14, 2011 /PRNewswire/ - MI Developments Inc. ("MID") (TSX/NYSE: [ MIM ]) announced today the departure of Dennis Mills, Vice-Chairman, Don Cameron, Chief Operating Officer, and Vito Ciraco, Vice-President and Associate General Counsel. "I would like to thank each of these executives for his contributions to the Company over a productive tenure", stated Bill Lenehan, MID"s Chief Executive Officer.

MID previously announced on July 6, 2011 the appointment of a new board of directors and senior management team following the completion on June 30, 2011 of MID's plan of arrangement to eliminate its dual-class share structure.

About MID

MID is a real estate operating company engaged primarily in the acquisition, development, construction, leasing, management and ownership of a predominantly industrial rental portfolio leased primarily to Magna International Inc. and its automotive operating units in North America and Europe.

Copies of financial data and other publicly filed documents are available through the internet on Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) which can be accessed at [ www.sedar.com ] and on the United States Securities and Exchange Commission's Electronic Data Gathering, Analysis and Retrieval System (EDGAR) which can be accessed at [ www.sec.gov ].

SOURCE MI Developments Inc.