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DDR replaces terminated CEO with DCT Industrial chairman

Thomas Augustwill take over as DDR Corp.'spresident and CEO with immediate effect.

August will replace DavidOakes, who was terminated as the company's president and as well as interim CFO, accordingto a news release.

A 40-year veteran of the real estate industry, August is thechairman of and alsoa board member of DDR. He was previously president and CEO of Equity Office PropertyTrust, which is now controlled by BlackstoneGroup LP.

Additionally, Christa Vesy, executive vice president and chiefaccounting officer, has been appointed interim CFO. DDR also namedVincent Corno executive vice president of leasing and development. Both appointmentswill take effect immediately.

Corno most recently held the title of senior vice president,real estate at DICK'S Sporting Goods Inc. Vesy joined DDR as senior vice presidentand chief accounting officer in 2006.