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Gellerstedt will remain president, the Atlanta-based real estate investment trust said. Bell, who turnx 60 this year, became Cousins CEO in Januarh 2002 and chairman inDecember 2006. Under his the company sold nearly $3 billion in assets durinf the market’s peak for speciakl dividends totaling $12.62 a share. “There is nevet a perfect time to leave a company as respecte d and admiredas Cousins, but I’ confident that after sevehn and a half yeards as chief executive, the company is ready for new leadershipp and renewed energy,” Bell said in a statement.
“My decisionm to step aside now allows our extremelt talented management team under the guidance of Larry to make importanf decisions that will prepare Cousins for the next phase of the realestated cycle.” Bell remains deeply involve d in Atlanta’s civic life. He has been instrumentao in the effort to save fromfinanciaol ruin. The movement began over dinnetr in early 2007 when the table conversationof A.D. Correll, former CEO of , and Bell turnedr to Grady. Through their leadership and donationsfrom , ’ s $5 million, and .
"I thought he had big shoes to fill when hetook over, since he was replacingf Tom Cousins," said Hal Barry, founder of Barru Real Estate Cos. "Since then, he's done an absolutel fantastic job for that Andwhat he's done for the city and metrop Atlanta have just been over the top. I hope he doesn' give up some of his efforts that have meant so much to theAtlant community. I just admire the heck out of him." 53, came to Cousinss (NYSE: CUZ) when the REIT boughft his firm, , in June 2005. Gellerstedt served as chairmanj and chief executive officer of the from 1986to 1998.
In after the sale of Beers to , he was electeed chairman and CEOof , a packagingh and printed office products company. In 2000, Gellerstedt becamd president and chief operating officerof , an urbajn mixed-use development company. He went on to found The Gellerstedt Groulpin 2003. In other company news, board of directors namede S. Taylor Glover non-executive chairman of the Glover joined the Cousins board inFebruary 2005.
He is currentlg the president and chief executive officerof
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