Ramco-Gershenson Properties Trust Announces CEO Transition
December 05 2017 - 4:15PM
Ramco-Gershenson Properties Trust (NYSE:RPT) (the “Company”) today
announced that its Board of Directors and its President and Chief
Executive Officer, Dennis Gershenson, have initiated a CEO
transition plan. The Board has commenced a search process for a new
CEO and has retained an international executive search firm to
facilitate the process. Both internal and external candidates will
be considered for the position.
“We are focusing our search for the next generation
of leadership at Ramco to advantageously position the Company in an
evolving retail landscape," said Stephen Blank, Chairman of the
Board. "The Board remains confident in the Company's strategy and
believes that there will be opportunities to grow shareholder value
through its platform of high-quality shopping centers and strong
investment discipline.”
ABOUT RAMCO-GERSHENSON PROPERTIES
TRUST:
Ramco-Gershenson Properties Trust
(NYSE:RPT) is a premier, national publicly-traded shopping center
real estate investment trust (REIT) based in Farmington Hills,
Michigan. The Company’s primary business is the ownership and
management of regional dominant and urban-oriented, infill shopping
centers in key growth markets in the 40 largest metropolitan
markets in the United States. At September 30, 2017, the Company
owned interests in and managed a portfolio of 60 shopping centers
and two joint venture properties. At September 30, 2017, the
Company’s consolidated portfolio was 93.0% leased. Ramco-Gershenson
is a fully-integrated qualified REIT that is self-administered and
self-managed. For additional information about the Company please
visit www.rgpt.com or follow Ramco-Gershenson on Twitter
@RamcoGershenson and facebook.com/ramcogershenson/.
This press release may contain forward-looking
statements that represent the Company’s expectations and
projections for the future. Management of Ramco-Gershenson believes
the expectations reflected in any forward-looking statements made
in this press release are based on reasonable assumptions. Certain
factors could occur that might cause actual results to vary,
including deterioration in national economic conditions, weakening
of real estate markets, decreases in the availability of credit,
increases in interest rates, adverse changes in the retail
industry, our continuing ability to qualify as a REIT and other
factors discussed in the Company’s reports filed with the
Securities and Exchange Commission.
Company Contact:Dawn L.
Hendershot, Senior Vice President of Investor
Relations and Public Affairs31500
Northwestern Highway, Suite 300 Farmington Hills,
MI 48334
dhendershot@rgpt.com (248)
592-6202
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