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Happy belated HQ grand opening

American Greetings is delaying plans to develop a new world headquarters pending the resolution of a buyout proposal from CEO Zev Weiss and other members of management.

American Greetings board of directors believed it was advisable to temporarily delay the project in light of the proposal from Weiss, president and COO Jeffrey Weiss and other members of the Weiss family to take the company private.

In a statement, the company said it still intends to develop its new world headquarters in the Crocker Park development located in the City of Westlake, Ohio, and believed the delay would be short and have no material adverse impact on the $1.7 billion company.

 

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