TORONTO, ONTARIO--(Marketwired - Oct. 2, 2014) - RioCan Real Estate Investment Trust ("RioCan") (TSX:REI.UN) today announced the resignation of Frederic Waks, President and Chief Operating Officer, to pursue other interests. In order to facilitate an orderly transition, Mr. Waks has offered to stay at RioCan until March 31, 2015 or such other date as is mutually agreed.
Edward Sonshine, Chief Executive Officer of RioCan, commented: "On behalf of RioCan I would like to thank Fred for his tremendous contribution. Fred has been with RioCan for 19 years and has been a key player in our growth and success. He is a highly respected businessman and leader, and is and will remain a close friend. We all wish him well as he embarks on the next stage of his career."
About RioCan
RioCan is Canada's largest real estate investment trust with a total capitalization of approximately $14.9 billion as at June 30, 2014. Its owns and manages Canada's largest portfolio of shopping centres with ownership interests in a portfolio of 340 retail properties containing approximately 81 million square feet, including 47 grocery anchored and new format retail centres containing 13 million square feet in the United States as at June 30, 2014. RioCan's portfolio also includes 16 properties under development in Canada. For further information, please refer to Riocan's website at www.riocan.com.
Contact Information:
Edward Sonshine, O. Ont., Q.C.
Chief Executive Officer
(416) 866-3018
www.riocan.com