Hudson Pacific Properties announced a reduction in its Board of Directors, decreasing the size from 10 to 8 members. Directors Ebs Burnough and Christy Haubegger voluntarily resigned to support this more efficient board structure.
CEO and Chairman Victor Coleman stated that this change maintains necessary experience while contributing to ongoing corporate cost management efforts. The streamlining aims to drive value creation for shareholders.
The company also anticipates that its studio business will benefit from newly approved business incentives designed to stimulate production in California. These substantially increased film and TV production incentives are expected to boost demand for HPP's studio facilities.
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