Michael D. Fascitelli to Step Down as Vornado’s Chief Executive Officer; Steven Roth, the Company’s Chairman, Appointed as Chief Executive Officer
by Business Wire
VORNADO REALTY TRUST (NYSE:VNO) announced today that Michael D. Fascitelli has resigned as the company’s President and Chief Executive Officer, effective April 15, 2013. He plans to take a break after which he will pursue new challenges. Mr. Fascitelli will continue to serve on Vornado’s Board of Trustees.
Steven Roth, the company’s Chairman, was appointed by the Board of Trustees as Chief Executive Officer.
Mr. Fascitelli joined Vornado 16 years ago as President and Trustee. In May 2009, he became Chief Executive Officer.
Mr. Roth joined Vornado in April 1980 and has been Chairman of Vornado’s Board of Trustees since May 1989. He was Vornado’s Chief Executive Officer from May 1989 through May 2009.
Mr. Roth and Vornado’s Board thank Mr. Fascitelli for 16 years of outstanding service.
Messrs. Roth and Fascitelli will participate on Vornado’s fourth quarter earnings conference call and audio webcast, which will be held today at 10:00 a.m. Eastern Time (ET) and will be accessible at www.vno.com.
Vornado Realty Trust is a fully integrated equity real estate investment trust.
Certain statements contained herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with the timing of and costs associated with property improvements, financing commitments and general competitive factors.