Jersey City-based Mack-Cali Realty Corporation’s board of directors announced the appointment of board chair MaryAnne Gilmartin to interim chief executive officer. She succeeds Michael J. DeMarco, effective immediately. The board has formed a committee to oversee the search for a permanent CEO.
“On behalf of the Board, I would like to thank Michael for his service to Mack-Cali. I look forward to working with the talented Mack-Cali team and all of our stakeholders to ensure that the company operates at the highest level,” Gilmartin said.
She has served as a director at Mack-Cali since June 2019. She was appointed to the board by Bow Street, an investor group that embarked on overhauling the company last spring. Gilmartin is the founder and CEO of MAG Partners, which will continue to operate under internal leadership while she serves as Mack-Cali’s Interim CEO. She has more than 30 years of real estate experience, including as CEO and President of Forest City Ratner Companies, LLC.
Gilmartin is also a director of the Jefferies Group LLC, and serves: on the executive committee of The Brooklyn Academy of Music; as vice chair of New York Public Radio; on the executive committee and board of governors of The Real Estate Board of New York; and as a member of the Industry Advisory Board of the MS Real Estate Development Program at Columbia University.
In addition, the Mack-Cali board has named Tammy K. Jones as lead independent director. Jones joined the Mack-Cali board following the company’s 2020 annual meeting. She has over 25 years of real estate experience and has dedicated her professional career to the advancement of ethnic and gender diversity in leadership positions in the real estate sector.
One of the country’s leading real estate investment trusts (REITs), Mack-Cali Realty Corporation is an owner, manager and developer of premier office and multifamily properties in select waterfront and transit-oriented markets throughout New Jersey.
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