PHILADELPHIA – March 28, 2018 – PREIT (NYSE: PEI) announced that Ron Rubin has decided not to stand for re-election at the Company’s Annual Meeting of Shareholders on May 31, 2018.
Reflecting on Mr. Rubin’s departure, Joseph Coradino, PREIT’s Chairman and CEO remarked, “On behalf of the entire Company, I want to thank Ron for his many years leading the Company and on the Board. As a mentor to me, personally, I learned a lot from Ron and know the lessons will stay with me for life. We wish Ron continued to success in future endeavors.”
“All of the members of the Board wish to extend their gratitude to Mr. Rubin for his service to the Company as a Trustee and as the former Chairman as well as for his years of remarkable dedication and leadership to the Company and the community,” noted Charles P. Pizzi, PREIT’s Lead Independent Trustee.
Ronald Rubin is a highly accomplished and well-known leader in the real estate industry. He served as CEO of PREIT since 1997, when The Rubin Organization merged with PREIT. He became Chairman of PREIT’s Board of Trustees in 2001. His real estate development accomplishments include many signature projects such as the redevelopment of the Bellevue and development of Mellon Bank Center and his leadership during PREIT’s redevelopment of notable Philadelphia-area retail properties including Willow Grove Park, Cherry Hill and Plymouth Meeting Malls. He served as co-Chairman of the National Museum of American Jewish History and as a Director of PECO Energy Company, a subsidiary of Exelon Corporation. He has also been actively involved with many local organizations in Philadelphia, including as a director of the Regional Performing Arts Center, the past chairman of Center City District, the former president of the Jewish Federation of Greater Pennsylvania, and a former director of The Franklin Institute, the Philadelphia Orchestra, and the United Jewish Appeal.
PREIT (NYSE:PEI) is a publicly traded real estate investment trust that owns and manages quality properties in compelling markets. PREIT’s robust portfolio of carefully curated retail and lifestyle offerings mixed with destination dining and entertainment experiences are located primarily in the eastern U.S. with concentrations in the mid-Atlantic’s top MSAs. Since 2012, the Company has driven a transformation guided by an emphasis on portfolio quality and balance sheet strength driven by disciplined capital expenditures. Additional information is available at www.preit.com or on Twitter or LinkedIn.