January 06, 2016
Contributed Art/PREIT
Ron Rubin, 84, has served as both CEO and Executive Chairman of the Pennsylvania Real Estate Reinvestment Trust (PREIT).
Ron Rubin, Executive Chairman of the Pennsylvania Real Estate Investment Trust (PREIT), will step down from his position in June after serving the company for nearly 20 years after it acquired his Rubin Organization in 1997, the company announced Tuesday afternoon.
"I have benefitted tremendously from Ron's leadership, the invaluable relationships he has created and his real estate savvy," said PREIT CEO Joe Coradino. "The Company values the distinguished service, legacy and spirit established by Ron and will benefit from his continued leadership as Chairman of the Board."
Rubin, 84, is best known for leading the development of several malls in the Delaware Valley, including the Willow Grove Mall, the Christiana Mall and the Moorestown Mall. He was also behind the renovations to Philadelphia's One Penn Center and the construction of the Mellon Bank Center.
While no specific reason was given for Rubin's planned departure on June 7, he will remain on the company's Board of Trustees.
PREIT's footprint in Philadelphia is on track to expand significantly after the company, led by Rubin, purchased the Gallery at Market East in April. Together with California-based Macerich, PREIT is planning a $325 million renovation of the mall as The Fashion Outlets of Philadelphia, with a tentative opening date projected in Spring 2017.
Rubin, who was CEO at PREIT from 1997-2012, currently serves as co-Chairman of the National Museum of American Jewish History and as a director of PECO Energy Company. He remains a director of the Regional Performing Arts Center and formerly served as a director of The Franklin Institute, the Philadelphia Orchestra and the United Jewish Appeal.
