SIMON SAYS: Simon Property Group Inc. and Westfield America Inc. announced their nominees to the board of directors of Taubman Centers Inc. If their nominees do get elected, it could help the developers in their efforts to take over Taubman, which has rejected the Simon-Westfield offer of $20 a share. The offer expires today, but could be extended. Taubman responded to the new slate of board nominees by calling it a disruptive manuever to all three developers. The nominees are Benjamin Civiletti, chairman of the law firm Venable LLP and former attorney general of the U.S.; Douglas Crocker 2nd, trustee and vice chairman of Equity Residential; Roberta Karmel, professor of law and co-director of the Center for the Study of International Business Law at Brooklyn Law School and former commissioner of the U.S. Securities and Exchange Commission, and Michael Koeneke, retired chairman of the mergers & acquisitions group at Merrill Lynch and former managing director and head of the M&A group at First Boston Corp.
This story first appeared in the March 28, 2003 issue of WWD. Subscribe Today.
REEBOK’S TIME: Reebok has teamed up with Timex to create a new line of sport and fashion watches. The timepieces include digital and analog styles, with retail prices falling between $65 and $250. Reebok has had a small number of watches before, but this is its first significant push into the category, according to John Frascotti, Reebok’s senior vice president of licensing and new business. Among the offerings are watches with GPS technology, which track the wearer’s speed, distance and pace, as well as styles with steel and rubber bracelets. Other watches have alarms and Timex’s Indiglo night-light feature. The watches are being tested in a limited number of stores this season, with a bigger push, including international distribution, planned for the fall.
JEWELRY MOVE: Allan Metzner, executive vice president at Reeds Jewelers Inc., has been named to the newly created position of chief operating officer. Metzner, who will also retain his old title, joined Reeds in 1989 and held various positions in merchandising and finance. The Wilmington, N.C.-based retailer also said it has executed an amendment to its revolving credit facility with Bank of America N.A. Reeds now operates 90 stores, primarily in the Southwest and Midwest.