Rudin and DeMarco take over at Mack-Cali

Mack-Cali Realty Corp. has named two veteran real estate and finance executives to succeed Mitchell E. Hersh, who last month stepped down as president and CEO of the New Jersey-based real estate investment trust and Westchester commercial landlord.

Michael J. DeMarco

Mitchell E. Rudin

Mitchell E. Rudin has assumed the CEO post at Mack-Cali and Michael J. DeMarco has begun work as the company”™s president and chief operating officer. Each has more than 30 years of experience in the real estate industry, according to Mack-Cali.

Rudin most recently served as president and CEO of U.S. commercial operations at Brookfield Office Properties. Previously he was president and CEO of the New York tri-state region for CBRE Inc.

DeMarco most recently was chief investment officer at Cantor Commercial Real Estate Co. and previously was executive vice president at Vornado Realty Trust. He is a former senior managing director at Lehman Brothers Holdings Inc. and a managing director at Fortress Investment Group. Mack-Cali officials said the new president and COO”™s expertise is in investment banking, capital markets and restructuring of operations.

Mack-Cali Chairman William Mack said Rudin and DeMarco will work closely with Marshall Tycher, president of Roseland, Mack-Cali”™s subsidiary in multifamily real estate development, the parent company”™s growing area of focus. Additional senior members of the team include Tony Krug, chief financial officer, and Gary Wagner, chief legal officer and secretary, Mack said.

Mack in the announcement thanked Hersh for his more than 15 years of service in the top job at Mack-Cali.  “As president and CEO, Mitch developed a portfolio of class A office assets, and more recently he led the company”™s diversification into the multifamily sector,” he said.