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Mitchell Rudin is stepping down from his position as vice chairman at Mack-Cali and leaving the company, Mack-Cali announced Friday.
Rudin had been in the role at the REIT since April 2017. He had been the CEO of the REIT, but was eventually replaced by Michael DeMarco at the top of the New Jersey-based office landlord's organizational chart.
“All of us here at Mack-Cali would like to thank Mitch for his hard work and contributions to the strategic repositioning of Mack-Cali,” DeMarco said in a release. “Our success to date has been a team effort, in which he played an integral part. I wish him all the best in his future endeavors.”
Under Rudin’s purview, the REIT began selling off underperforming commercial properties. This year, it plans to sell off as much as $425M worth of assets.
Before joining Mack-Cali, Rudin was the CEO of U.S. commercial operations at Brookfield, a position that he left suddenly in 2014. Rudin told The Real Deal that his departure from Mack-Cali was a “lovely exit” and that he would be taking a family vacation before planning his next move.
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