Richard Gershenson has resigned as executive vice president and secretary of the company, effective June 1, to pursue private business opportunities. Gershenson is one of the son's of company co-founder William Gershenson.

Gershenson headed the company's development group. This responsibility has been reassigned to Fred Zantello, who has also been named executive vice president.Gershenson will continue to work with the company in a consulting role for one year. The company announced several years ago that it would begin to work to relieve Bruce Gershenson, formerly executive vice president and treasurer, and Michael Ward, formerly executive vice president and COO, of some of their day-to-day duties with the REIT.

In 1975, William Gershenson's four sons, Joel, Dennis, Richard and Bruce along with Ward assumed leadership responsibility of Ramco-Gershenson. With his brother Aaron, William Gershenson started what became Ramco-Gershenson in the early 1950s.

In other corporate moves announced this week, the company named Catherine Clark as senior vice president of acquisitions. The board also appointed Richard Smith, the company's CFO, as secretary. Accordingly, Bruce Gershenson will no longer serve as executive vice president and treasurer and Michael Ward will no longer serve as executive vice president and chief operating officer of the company.

As previously announced in May of 2001, the company began a corporate reorganization that diminished the day-to-day responsibilities of Bruce Gershenson and Michael Ward. Ramco-Gershenson has a portfolio of 81 shopping centers totaling approximately 17.1 million sf of gross leasable area.

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Ramco-Gershenson Makes Executive Changes

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