EDISON, NJ—Confirming earlier published reports, industry veteran Mitch Rudin has been hired as CEO of Mack-Cali Realty Corp., and Michael DeMarco is the office and multifamily REIT's new president and COO. Both appointments are effective immediately; CLI's new leaders each call on more than 30 years' industry experience.
Rudin and DeMarco replace outgoing president and CEO Mitchell Hersh. Most recently president and CEO of US commercial operations at Brookfield Office Properties, Rudin previously served as the president of the New York tri-state region at CBRE.
DeMarco's background is investment banking, capital markets and restructuring of operations. He has served as a senior managing director at Lehman Brothers, a managing director at Fortress Investment Group, and an EVP at Vornado Realty Trust. Rudin and DeMarco will work closely with with Marshall Tycher, president of Roseland, CLI's multifamily subsidiary.
“This is an exciting time for Mack-Cali,” Rudin says. “Mike, Marshall and I are pleased to have the opportunity to lead the Company in its next phase of growth and development.”
Board chairman William Mack, who cites the “broad and complementary range of skills and experience” that Rudin and DeMarco bring to the company, also expresses thanks to Hersh. “As president and CEO, Mitch developed a portfolio of class A office assets, and more recently he led the company's diversification into the multifamily sector,” says Mack. “We greatly appreciate all that he's done over the years to help build Mack-Cali and wish him great success in the future." GlobeSt.com will provide an update as more information becomes available.
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