Newswire

MI Developments appoints Simonetti as new CEO

TORONTO, Aug 20 (Reuters) - Real estate firm MI Developments Inc. appointed John Simonetti as its new chief executive on Friday to replace Brian Tobin whose resignation was also announced.

Simonetti had been MI Developments chief financial officer. The company is a spin-off from autoparts supplier Magna International .

($1=$1.30 Canadian)