Office and retail landlord Vornado Realty Trust announced this morning that CEO Michael Fascitelli is leaving the firm. He will be replaced by Chairman Steven Roth.
Fascitelli joined the Manhattan-based trust in 1997 and was tapped as its chief executive in 2009; he will step down April 17, Vornado said. Roth indicated he will take over the CEO job only temporarily.
“We will focus hard on a succession plan,” Roth said during the firm’s fourth quarter 2012 earnings call this morning.–Adam Pincus