Mack-Cali President Resigns

Timothy Jones, president of Mack-Cali Realty Corp., has resigned "to pursue private investment opportunities," according to the firm, and CEO Mitchell Hersh will assume the title of president. Jones worked for Northeastern office REIT since 1997.

"We have a deep management team at Mack-Cali that is committed to our strategic plan of serving our tenants and growing in our core Northeast markets," says Hersh.

Jones, 48, was paid $1.76 million for fiscal year 2003. He exercised $736,000 worth of options over that period.

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