Cali Realty Corporation Names Rizk Chief Executive Officer

12/06/1995 Category: Miscellaneous

Lefkowitz Tapped as Chief Financial Officer

CRANFORD, NJ--December 6, 1995--Cali Realty Corporation (NYSE:CLI) has named Thomas A. Rizk as its Chief Executive Officer and Barry Lefkowitz as its Chief Financial Officer effective January 1, 1996. The announcement was made today by John J. Cali, Chairman of the Board of this New Jersey-based real estate investment trust (REIT). Rizk, who has served as President and Chief Financial Officer since the company's inception, will retain the title of President.

"Tom Rizk successfully led our company through its initial public offering in August, 1994, through several high-profile acquisitions, and a subsequent stock offering this past October," noted Cali, who formerly held the CEO title. Rizk had served as General Counsel and as a member of the Executive Committee since joining the company in 1989. In 1991, Rizk was named Chief Financial Officer.

In his new position, Lefkowitz, who will also retain the title of Vice President-Finance, will be responsible for coordinating all financial activities for Cali Realty Corporation. Before joining the company, Lefkowitz was a Senior Manager specializing in real estate with the accounting firm of Deloitte & Touche, LLP.

Cali Realty Corporation is a fully integrated, self-administered, self-managed real estate investment trust (REIT) providing leasing, management, acquisition, development, construction and tenant related services for its portfolio. Upon completion of the Harborside purchase, the Company will own 48 properties, primarily Class A office and office/flex buildings, totaling approximately 6.4 million square feet. All of the properties are located in New Jersey, New York and Pennsylvania.