COSTA MESA, CA-Co-founder and chairman Thomas L. Schriber of theretail development and investment firm Donahue Schriber has retiredfrom company, closing out 41 years at the helm of the private REIT.Schriber has relinquished his role to president, CEO and 30-yearcompany veteran Patrick S. Donahue as part of the company’ssuccession plan. He will stay on as chairman emeritus and an activeboard member while Donahue assumes the responsibilities of chairmanof the board and continues to serve as CEO.

Schriber, who established Donahue Schriber with his latepartner, Daniel W. Donahue, says that he and Donahue "alwaysbelieved in looking ahead and planning for the company's future."His retirement is part of a succession plan that the twoco-founders created, which was designed "to utilize the pool oftalented individuals who have demonstrated the ability to leadDonahue Schriber," the retiring chairman says.

Throughout his 30-year career with the company, Pat Donahue hasworked in every aspect of Donahue Schriber's business includingleasing, asset management, development and corporate strategy. Heis actively involved with the International Council of ShoppingCenters, which next week convenes its signature annual conventionin Las Vegas, and is a past trustee of its board of directors.