Edward P. Roski Jr.
Leading by example is what Edward P. Roski Jr. has done since taking the reins of his father’s
business, Majestic Realty Co. Under his leadership as president and chairman, Majestic has
not only grown its real estate portfolio to 83 million square feet, but has also done so by
investing in and being active members of every community in which his company is located.
This core philosophy remains an integral value, impacting how the company does business
day-in and day-out,. By maintaining ownership of all Majestic’s properties, Roski and the company create a vested and long-term interest in each development—an approach which also
requires that Majestic help build sustainable communities.
In 2002, Roski—who is also co-owner of the Los Angeles Kings and Lakers sports
feranchises and the Staples Center—formalized his company’s longstanding tradition of corporate giving with the launch of the Majestic Realty Foundation. It
provides support to local communities in five key investment areas: youth,
education, family, health and violence prevention.
“Over the decades, we’ve watched as people lost their jobs and their pensions, and eventually their hope,” Roski says. “But when other companies
lamented that great towns, great communities had turned into ghost towns,
we looked at those areas through a different lens.
“We stopped focusing on what had happened and started noticing what
could be done, through collaboration,” he adds. “We saw promise and
potential. We listened to the communities’ ambitions and aspirations. And
we believed that, together, we could write a new chapter. With the help of
many people in private business and the public sector, we’ve been successful in many communities across the country. Ideas that existed only on
blueprints became buildings and business parks that have created thousands of permanent positions, created millions in tax revenues and are
driving local economies.”
“Each day is a new day, a
new beginning and a new
opportunity. Do what you
enjoy most and do it to
the best of your ability.
Trust your gut and never
THE MIRACLE WORKER
Glenn Rufrano’s longstanding reputation as a
turnaround specialist preceded him when he
was asked to step in as CEO of what was then
known as American Realty Capital Properties.
The market’s confidence in the firm was badly
shaken by revaltions of accounting impropri-eties in the fall of 2014, leading to the departure of its senior management team. Since Rufrano took the reins of
what is now VEREIT in April 2015, he has reconstituted the net lease
REIT’s board of directors, formalized a new management team and
introduced a business plan which has been substantially achieved.
When Rufrano joined VEREIT, “the company had started to regain
credibility because the financials were restated,” he told GlobeSt.com,
sister publication to Forum, this past April. “But our job was to main-
tain and increase credibility. I believe we are now fully credible, in part
because we’re new: new board, new management team, new name, new
stock exchange. So the company is not the same. The good news is that
the assets are the same, and they were good assets to begin with.”
Rufrano’s success in re-establishing VEREIT is not his first turn-
around story; he served as Cushman & Wakefield’s CEO between 2010
and 2013, and held similar roles at Centro Properties Group and New
Plan Excel Realty Trust. At all three companies, he was tasked with turn-
ing things around—but his skill in bolstering metrics isn’t the only
measure of his capacity as a boss. “Glenn has led his team by personal
example which is a direct correlation to our success in an environment
that is very challenging,” says Brett Sheets, SVP of leasing at VEREIT.
lead by example
and never feel