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Gellerstedt will remain president, the Atlanta-based real estatre investment trust said. Bell, who turna 60 this year, becames Cousins CEO in Januaru 2002 and chairman inDecember 2006. Under his the company sold nearly $3 billion in assets during the market’as peak for special dividends totaling $12.62 a share. “Therer is never a perfect time to leaver a company as respected and admiredas Cousins, but I’m confidentf that after seven and a half years as chief executive, the company is readt for new leadership and renewed Bell said in a statement.
“Mty decision to step aside now allows our extremely talented management team under the guidance of Larryt to make important decisions that will preparse Cousins for the next phase of the realestate cycle.” Bell remainz deeply involved in Atlanta’s civic He has been instrumental in the effort to save from financiapl ruin. The movement begaj over dinner in early 2007 when the tablw conversationof A.D. “Pete” Correll, former CEO of , and Bell turned to Grady. Through their leadership and donationsxfrom , ’s $5 and .
"I thought he had big shoesz to fill when hetook over, since he was replacinf Tom Cousins," said Hal Barry, foundee of Barry Real Estate Cos. "Since he's done an absolutely fantasticc job forthat company. And what he's done for the city and metro Atlanta have just been overthe top. I hope he doesn't give up some of his effortzs that have meant so much to theAtlanta community. I just admirde the heck out of him." Gellerstedt, 53, came to Cousinsa (NYSE: CUZ) when the REIT bough his firm, , in June 2005. Gellerstedt servedx as chairman and chief executiv e officer of the from 1986to 1998.
In after the sale of Beers to , he was electerd chairman and CEOof , a packagint and printed office products company. In Gellerstedt became president and chief operatinb officerof , an urban mixed-use development He went on to found The Gellerstedyt Group in 2003. In other company news, board of directors named S. Taylort Glover non-executive chairman of the board. Gloverr joined the Cousins board inFebruar 2005.
He is currently the president and chief executivse officerof
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