In a brief filing yesterday with the Securities and Exchange Commission, Cleveland-based Forest City Realty Trust, parent of Forest City New York, disclosed:
(b) On September 4, 2018, Forest City Realty Trust, Inc. (the “Company”) announced that Ronald A. Ratner, currently Executive Vice President and Chief Development Officer, will be leaving the Company effective September 15, 2018. Mr. Ratner’s departure was not due to any disagreement with the Company or concerns relating to the operations, policies, or practices of the Company.
Well, there may not have been any disagreement, but, as The Real Deal noted, Ratner as of last March--when a new board overhauled the company, with Ronald among three family members leaving--was supposed to stay.
But, indeed, family control and power has been steadily diminishing. And of course, Forest City is in the process of being acquired by Brookfield Asset Management. Ratner is a cousin of Bruce Ratner, executive chairman of Forest City New York.
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