Bruce Ratner will be stepping down as chief executive officer of Forest City Ratner, but will continue serving in a chairman capacity, Crain’s reported. MaryAnne Gilmartin, current executive vice president, will succeed him. An unnamed source told Crain’s that Ratner will “step down sooner rather than later, likely the next few months.” A Forest City Ratner spokesperson declined comment and another unnamed source told Crain’s that “I wouldn’t expect him to disappear. He’ll still be very much involved at Forest City.”
The reasons for Ratner’s move are not entirely clear, especially as the developer last year opened the Barclays Center at Brooklyn’s Atlantic Yards, as well as broke ground for the first residential tower at the complex.
Ratner is also a minority owner of the Brooklyn Nets, whose home is the Barclays Center. [Crain’s] —Zachary Kussin