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MI Developments Tobin resigns as CEO

TORONTO, Aug 20 (Reuters) - MI Developments said on Friday its chief executive officer Brian Tobin had resigned after less than six months in the job and he would also step down as a director of the real estate developer.

Tobin's resignation come as MI Developments, a spin-off of autoparts giant Magna International , is facing criticism over its plan to take racetrack division Magna Entertainment private.

($1=$1.30 Canadian)