Mack-Cali Realty Corporation, an owner, manager, and developer of class A office and luxury multi-family real estate, today announced a new executive leadership team of Mitchell E. Rudin and Michael J. DeMarco. Effective immediately, Mr. Rudin will serve as chief executive officer and Mr. DeMarco will serve as president and chief operating officer.
Rudin and DeMarco are accomplished industry veterans, each with more than 30 years of experience in real estate. Most recently, Rudin served as the president and chief executive officer of U.S. Commercial Operations at Brookfield Office Properties and prior to that he served as the president and chief executive officer of the New York Tri-State Region for CBRE, Inc. DeMarco’s expertise is in the areas of investment banking, capital markets, and restructuring of operations, which includes his time as a senior managing director at Lehman Brothers, a managing director at Fortress Investment Group, and an executive vice president at Vornado Realty Trust.
“Following an extensive process undertaken by Mack-Cali’s board of directors, in consultation with a leading executive search firm, we are excited to have attracted senior leaders with such a broad and complementary range of skills and experience to lead the Company forward,” said William Mack, chairman of the board. “Mitch and Mike will work closely with Marshall Tycher, president of Roseland, our multi-family subsidiary. Additional senior members of the team include Tony Krug, chief financial officer, and Gary Wagner, chief legal officer and secretary. We are confident that together they comprise one of the finest office and multi-family management teams in the industry. I look forward to the Company’s next chapter, and am confident that we have identified the right leaders to oversee Mack-Cali’s continuing transformation. We invite all our investors to meet the new team at the upcoming NAREIT conference.”
“This is an exciting time for Mack-Cali. Mike, Marshall, and I are pleased to have the opportunity to lead the Company in its next phase of growth and development,” said Rudin. “Mack-Cali has an outstanding portfolio of premier assets and an impressive team of employees. I look forward to working together with Mitch and Marshall to create and execute the Company’s strategic plan,” said DeMarco.
“On behalf of the board of directors, I want to thank Mitchell Hersh for his years of dedication and service to Mack-Cali,” added Mr. Mack. “As president and CEO, Mitch developed a portfolio of class A office assets, and more recently he led the Company’s diversification into the multi-family sector. We greatly appreciate all that he’s done over the years to help build Mack-Cali and wish him great success in the future.”