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Real Estate moves through May 4, North America edition


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Real Estate moves through May 4, North America edition

This feature presentsa weekly rundown of recent significant management and board changes andpersonnel moves in the North American real estate industry, including U.S.REITs and REOCs, homebuilders, and gaming operators.

C-suite changes

* CEO RobertAdams will retirefrom his role, effective Dec. 31. Adams will remain as the company'snonexecutive chairman after his retirement. The company's board of directors islooking to form a transition plan and will commence the search for Adams'replacement soon.

* CaesarsEntertainment Corp. Executive Vice President and Chief CommercialOfficer Tariq Shaukat will depart from his positions, effective May 31,according to a filing. Shaukat is mulling over relocating outside of Las Vegas,leading him to seek employment elsewhere.

* COO Steven Belote is scheduled to leave the position, effective July 31, as thecompany decided to eliminatethe COO role as part of its ongoing cost-containment efforts. Wheeler said itwill fulfill the duties of a COO through increased efficiencies and arealignment of executive responsibilities within the company.

* CFO Luke Petherbridgejoined Excel Trust as the company's CEOand president. Petherbridge had been DDR's CFO since March 2015.

Board shuffle

* independent director RobertFroehlich will leave his position, as he will not seek re-electionat the company's 2016 annual stockholder meeting scheduled to be held on June 9.

* DirectorRoy Zuckerberg will retirefrom his position, as he will not offer himself for re-election at the company'sJune 1 annual stockholders meeting.

* tapped former GE Capital Executive Vice President Daniel Henson to serve as acompany director, ascurrent director Steve Patterson will not seek re-election at the company'sJuly 7 shareholders meeting.

* W. Blake Bairdand Murray McCabe joined SunstoneHotel Investors Inc. as company directors after being elected to the board, effective asof April 28. The company disclosed that director Lewis Wolff retired from hisposition, effective on the same day. Wolff did not seek to be re-elected to therole.

* appointed R.David Turner and Paul Melkus to join the company as board members. The appointmentstook place when InvenTrustProperties Corp. recently finalized a of the REIT.

* said ViceChairman Harrison LeFrak will leavehis position as a company director when his term expires at the scheduled June7 annual stockholder meeting. LeFrak does not intend to seek re-election at themeeting.

* appointed Dennis Letham to serve as a substitute nominee in replacing directorGary Sabin, who will retirefrom his position, effective at the end of the company's May 24 annual meeting.

Other news

* appointed Velda Turan to serve as vice president of luxury leasing, effectiveMay 10, according to a release. Turan's work experience has given hersignificant knowledge of the luxury retail market and experience with shoppingcenters across the U.S., Simon said.

* DuPontFabros Technology Inc. appointed Steven Rubis to serve as vicepresident, investor relations, according to a release. Prior to joining DuPont,Rubis worked as vice president, digital healthcare at Stifel.

* Lori Silverstein will step down as senior vice presidentand controller of BostonProperties Inc., effective May 13, according to a filing. BostonProperties CFO Michael LaBelle assumed Silverstein's responsibilities asprincipal accounting officer, effective as of April 29.