Thomas F. August named CEO of DDR
Mr. August is currently Chairman of the Board of DCT Industrial Trust Inc., an industrial real estate investment trust (REIT), and is a 40-year veteran of the real estate industry with extensive experience leading all facets of finance, investment and operational activities.
Mr. August previously served as President and Chief Executive Officer of Equity Office Property Trust (EOP) from July 2010 until the end of 2015 and served as its Chairman from October 2009 to July 2010.
EOP is a REIT controlled by The Blackstone Group and is one of the largest owners and managers of office properties in the United States.
Mr. August also previously served as President, Chief Executive Officer, and a Trustee of Prentiss Properties Trust, an office REIT, from 1996 until its acquisition in 2006. In addition, he held other executive roles, including Chief Financial Officer, at Prentiss beginning in 1987.
The appointment of Mr. August follows the termination of David J. Oakes as President & Chief Executive Officer and as interim Chief Financial Officer.
In addition, the Company announced two other changes to its executive management team:
Vincent A. Corno, a 24-year veteran of the real estate industry, joins the Company as Executive Vice President of Leasing and Development.
Mr. Corno most recently served as Senior Vice President - Real Estate for DICK'S Sporting Goods, Inc. and previously as Senior Vice President of Real Estate with Saks Incorporated and as Senior Vice President with The May Department Stores Company.
He also held the position of Vice President of Development with Forest City Enterprises. Mr. Corno, who earned his undergraduate and juris doctor degrees at St. Louis University, is also a licensed attorney and a certified public accountant.
Mr. Corno will work closely with Paul Freddo, Senior Executive Vice President, in connection with the transition of Mr. Freddo's responsibilities, which the Company anticipates will extend beyond the end of 2016.
Christa A. Vesy, currently serving as DDR's Executive Vice President & Chief Accounting Officer, has been named Interim Chief Financial Officer.
Ms. Vesy became Executive Vice President & Chief Accounting Officer of DDR in 2012, with responsibility for overseeing the property and corporate accounting and financial reporting functions.
Before joining the Company as Senior Vice President & Chief Accounting Officer in 2006, she worked for The Lubrizol Corporation and the Assurance and Business Advisory Services group of PricewaterhouseCoopers LLP.
Ms. Vesy graduated with a Bachelor of Science degree in business administration from Miami University in Oxford, Ohio and is a certified public accountant. ■