According to an article in Crain’s yesterday, Bruce Ratner is stepping aside as CEO of Forest City Ratner but will remain as chairman. It is unclear why the 68 year-old developer is making the change. He is expected to continue working at the company but to be less involved in the day-to-day operations. MaryAnne Gilmartin, who became executive vice president at Forest City in 2007, will take over as CEO. She started with the firm in 1994 and previously worked for the city’s Economic Development Corporation. The timing of the change is unknown, but a source told Crain’s it will be, “sooner rather than later, likely in the next few months.” Ratner came to New York in the 1960s to go to law school at Columbia University and worked in both the Lindsay and Koch administrations before starting his development firm. He not only became the borough’s, and perhaps the city’s, most controversial developer with the massive Atlantic Yards development, but also attempted to lure large corporate tenants to the borough with his MetroTech Center office complex and created a home for suburban mainstays like Chuck E. Cheese and Target in his Atlantic Center Mall.
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