Skip navigation

Rizk leaves Mack-Cali Realty; golden parachute sighted over Jersey

Thomas A. Rizk, former CEO of Cranford, N.J.-based Mack-Cali Realty Corp., left the company on April 19, and was replaced by former Mack-Cali president and COO Mitchell E. Hersh. Rizk also left the REIT's board of directors.

Rizk served as CEO since the August 1997 Mack-Cali merger. He was formerly president and CEO of Cali Realty Corp.

The official word from Mack-Cali: Mr. Rizk is leaving to pursue other interests, but he will be well compensated no matter what those pursuits and interests may be. With his 1997 contract, Rizk receives $14.5 million immediately and $500,000 annually for three years.

Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.