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Posted 22 January, 2021

MACK CALI REALTY CORP appointed new CEO

CEO Change detected for ticker NYSE:VRE in a 8-K filed on 22 January, 2021.


  However, Ms. Gilmartin's appointment as interim Chief Executive Officer will end upon the earlier to occur of (x) the commencement of employment of a permanent Chief Executive Officer of the Company or (y) a date selected by the Board of Directors of the Company, and during any remaining portion of the Term, MAG Partners will continue to make Ms. Gilmartin reasonably available to assist with the transition of Ms. Gilmartin's duties to her successor and with any other matters that the Company may reasonably request.  

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Overview of MACK CALI REALTY CORP
Real Estate/Construction • Residential REITs
Veris Residential, Inc. is a real estate investment trust, which owns and operates a real estate portfolio comprised predominantly of Class A office and flex properties located primarily in the Northeast. It operates through the following segments: Commercial and Other Real Estate, and Multi-Family Real Estate and Services. The Commercial and Other Real Estate and Multi-Family Real Estate Portfolio segments provides leasing, property management, acquisition, development, construction, and tenant-related services. The company was founded on May 24, 1994 and is headquartered in Jersey City, NJ.
Market Cap
$1.56B
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MACK CALI REALTY CORP by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. 


On January 22, 2021, Mack-Cali Realty Corporation (the "Company"), the general partner of Mack-Cali Realty, L.P. through which the Company conducts its business, entered into a six-month extension (the "Extension Letter") of that certain letter agreement (the "Letter Agreement") with MAG Partners 2.0 LLC ("MAG Partners"), pursuant to which MAG Partners has made MaryAnne Gilmartin's services available to the Company to serve as its interim Chief Executive Officer. Pursuant to the Extension Letter, the term of the Letter Agreement has been extended until July 25, 2021 (the "Term"). However, Ms. Gilmartin's appointment as interim Chief Executive Officer will end upon the earlier to occur of (x) the commencement of employment of a permanent Chief Executive Officer of the Company or (y) a date selected by the Board of Directors of the Company, and during any remaining portion of the Term, MAG Partners will continue to make Ms. Gilmartin reasonably available to assist with the transition of Ms. Gilmartin's duties to her successor and with any other matters that the Company may reasonably request. In addition, if the Term ends at any time prior to July 25, 2021 (other than a termination by the Company for cause), then the Company will continue to pay MAG Partners its monthly $150,000 cash retainer fee through July 25, 2021.


The foregoing summary of the Extension Letter does not purport to be complete and is qualified in its entirety by the full text of the Extension Letter, which is attached to this Current Report on Form 8-K as Exhibit 10.1 and incorporated herein by this reference.