Ratner Stepping Down as CEO

NEW YORK CITY-Sending shockwaves through Brooklyn, Bruce Ratner, CEO of Forest City Ratner Cos. and the borough’s biggest developer, reportedly is about to step down. The departure, as revealed Monday in Crain’s New York Business, was the driving force behind the Atlantic Yards complex, including the project’s pivotal offering, Barclays Center, which opened last year. He will be replaced by MaryAnne Gilmartin, EVP and a star at the company.

Representatives for FCRC declined comment and Crain’s reports it is unknown why, or when, Ratner will end his term at the top of the company. However, one source did tell Crain’s, “It will be sooner rather than later, likely in the next few months.” Ratner will continue to be involved, according to an unidentified source.”I wouldn’t expect him to disappear. He’ll still be very much involved at Forest City.”