ESCONDIDO, CA—Realty Income Corporation, hasappointed Sumit Roy as chief operating officereffective October 1. Roy will continue to maintain hisresponsibilities as chief investmentofficer.
Gary Malino will step down as president and chiefoperating officer effective October 1. Malino, who has beenpresident and COO since 2001, will serve as aconsultant to the company until January 31, 2015, assisting withthe transition process. John Case, chief executiveofficer and director, will re-assume the title of president.
Commenting on the change in management, Case stated, "Sumit hascontinued to play a broad role within the organization and haspositively impacted our company during its most notable growthphase. I have had the pleasure of working with Sumit in a varietyof professional settings for much of the last decade. Hisoutstanding management ability and innovative approach willcontinue to benefit our company. The expansion of hisresponsibilities is well-deserved and I am looking forward toworking with him in his additional capacity as COO.
"It's been a pleasure working with Gary and I am thankful for hismany significant contributions to the company over his29-year tenure. Gary has effectively served in avariety of leadership roles during a period in which our totalenterprise value grew from approximately $300 million to$15 billion. Realty Income is a better company today as aresult of Gary's loyal service."
Realty Income is a New York Stock Exchange real estate companydedicated to providing shareholders with dependable monthly income.As of August 31, 2014, the company had paid 529 consecutive monthlydividends throughout its 45-year operatinghistory.

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David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.