PARAMUS, NJ-Vornado Realty Trust announced that company President and CEO Michael D. Fascitelli plans to leave his post effective Apr. 15, 2013. He has also resigned as president of Alexander’s Inc., effective Apr. 15.
Fascitelli will continue to serve on Vornado’s board of trustees and will remain on Alexander’s Inc’s board of directors through his current term, scheduled to expire in May 2013. He plans to take a break, after which he will pursue new challenges.
Vornado Realty’s board of trustees appointed Steven Roth, the company’s chairman, to serve as CEO going forward. Roth has served as Vornado’s CEO once before, from May 1989 through May 2009.
Fascitelli joined Vornado 16 years ago as president and trustee. He assumed the post of CEO in May 2009.