CLEVELAND, Nov. 3, 2016 /PRNewswire/ -- Forest City Realty Trust, Inc., (NYSE: FCEA and FCEB) today announced that Executive Vice President, General Counsel and Secretary Geralyn M. Presti, will resign from her role with the company in the first quarter of 2017 to become President and Chief Executive Officer of The Music Settlement of University Circle. The Music Settlement, a 104-year-old Cleveland non-profit organization that provides music instruction, music therapy, and early childhood education, is where Presti began her professional career as a music therapist prior to her distinguished career in the law.
"Geri Presti has served Forest City with dedication and integrity for 27 years, including the last 14 years as our general counsel," said David J. LaRue, Forest City president and chief executive officer. "She has developed a strong internal legal team and has been a key leader on many companywide initiatives. On a personal note, she has been a mentor, advisor and great friend to me and to so many others among our executive team, board and associates. We will always consider her to be part of the Forest City family and we wish her all the best in her 'encore' career."
"The decision to leave Forest City was very difficult," said Presti. "I am deeply grateful for the opportunity to serve this great company and to work with such talented and creative professionals. The Music Settlement is one of Cleveland's cornerstone non-profit institutions, and the opportunity to partner with the board, faculty, staff and community partners to further strengthen the positive impact it has on the lives of so many, was something I could not pass up."
Presti will begin to transition to her role leading The Music Settlement in the first quarter of 2017, and will continue to carry out her responsibilities with Forest City through the beginning of March. The company intends to conduct a national search to identify her successor.
About Forest City
Forest City Realty Trust, Inc. is an NYSE-listed national real estate company with $8.9 billion in consolidated assets. The company is principally engaged in the ownership, development, management and acquisition of commercial and residential real estate throughout the United States. For more information, visit www.forestcity.net.
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SOURCE Forest City Realty Trust, Inc.
Mike Lonsway, Senior Vice President - Planning, 216-416-3325; Jeff Linton, Senior Vice President - Corporate Communication, 216-416-3558