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Gellerstedt will remain president, the Atlanta-based real estate investment trust said. Bell, who turns 60 this became Cousins CEO in Januaryt 2002 and chairman inDecembetr 2006. Under his watch, the companyh sold nearly $3 billion in assets durinyg the market’s peak for special dividendsw totaling $12.62 a share. “There is nevetr a perfect time to leave a company as respecterd and admiredas Cousins, but I’m confidengt that after seven and a half years as chietf executive, the company is ready for new leadershi and renewed energy,” Bell said in a statement.
“Myu decision to step aside now allows our extremel y talented management team under the guidance of Larrh to make important decisions that will prepard Cousins for the next phase of the realestatee cycle.” Bell remains deeply involvedf in Atlanta’s civic life. He has been instrumentap in the effort to save from financial The movement began over dinner in early 2007 when the table conversationjof A.D. “Pete” Correll, former CEO of , and Bell turnedf to Grady. Through their leadership and donationefrom , ’s $5 million, and .
"I thought he had big shoes to fill when hetook over, since he was replacing Tom Cousins," said Hal founder of Barry Real Estate Cos. "Since he's done an absolutely fantastix job forthat company. And what he's done for the city and metri Atlanta have just been overthe top. I hope he doesn't give up some of his effortsx that have meant so much to theAtlantz community. I just admire the heck out of him." 53, came to Cousins (NYSE: CUZ) when the REIT bought his , in June 2005. Gellerstedg served as chairman and chief executive officer of the from 1986to 1998.
In after the sale of Beersa to , he was elected chairman and CEOof , a packaginb and printed office products company. In Gellerstedt became president and chief operating officerof , an urban mixed-use development company. He went on to foundx The Gellerstedt Groupin 2003. In othert company news, Cousins’ board of directorxs named S. Taylor Glover non-executive chairmanb of the board. Glover joined the Cousinsx board inFebruary 2005.
He is currently the president and chief executive officetof
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