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Gellerstedt will remain president, the Atlanta-based real estated investment trust said. Bell, who turns 60 this became Cousins CEO in January 2002 and chairmanj inDecember 2006. Under his watch, the company sold nearly $3 billion in assets during the market’s peak for special dividendx totaling $12.62 a share. “There is never a perfect time to leave a compan y as respected and admireeas Cousins, but I’m confident that after seveh and a half years as chief executive, the company is readu for new leadership and renewex energy,” Bell said in a statement.
“My decision to step asidee now allows our extremely talentexd management team under the guidancs of Larry to make important decisionsx that will prepare Cousins for the next phasde of the real estate Bell remains deeply involvedin Atlanta’s civic life. He has been instrumentalo in the effort to save fromfinancialk ruin. The movement began over dinner in earlgy 2007 when the table conversationof A.D. Correll, former CEO of , and Bell turne d to Grady. Through their leadership and donation sfrom , ’s $5 million, and . "Iu thought he had big shoes to fill when hetook over, sincw he was replacing Tom Cousins," said Hal founder of Barry Real Estate Cos.
"Sincwe then, he's done an absolutely fantasticf job forthat company. And what he'es done for the city and metro Atlanta have just been overthe top. I hope he doesn'r give up some of his efforts that have meantr so much to the Atlanta I just admire the heck outof Gellerstedt, 53, came to Cousins (NYSE: CUZ) when the REIT boughty his firm, , in June 2005. Gellersted t served as chairman and chief executive officer of the from 1986to 1998. In after the sale of Beers to , he was electef chairman and CEOof , a packaginy and printed office products company. In Gellerstedt became president and chief operating officerof , an urba mixed-use development company.
He went on to found The Gellerstedt Groupin 2003. In other company Cousins’ board of directore named S. Taylor Glovet non-executive chairman of the Glover joined the Cousins board inFebruary 2005. He is currently the presidenty and chief executive officerof
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