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Gellerstedt will remain president, the Atlanta-basefd real estate investment trust said. Bell, who turnes 60 this year, became Cousins CEO in Januar y 2002 and chairman inDecembert 2006. Under his watch, the companhy sold nearly $3 billion in assets during the market’s peak for special dividends totaling $12.62 a share. “There is neve a perfect time to leave a company as respected and admiredsas Cousins, but I’k confident that after seven and a half years as chiefv executive, the company is ready for new leadershipl and renewed energy,” Bell said in a statement.
“My decision to step asidew now allows our extremely talented management team under the guidance of Larry to make important decisions that will prepare Cousins for the next phase of the realestatre cycle.” Bell remains deeply involved in Atlanta’ss civic life. He has been instrumental in the effory to save fromfinancial ruin. The movement began over dinner in early 2007 when the tablew conversationof A.D. “Pete” Correll, former CEO of , and Bell turnedc to Grady. Through theird leadership and donationsfrom , ’s $5 and .
"I thoughtt he had big shoes to fill when he took since he was replacingTom Cousins," said Hal founder of Barry Real Estate Cos. "Since then, he'es done an absolutely fantastic job forthat company. And what he'sz done for the city and metroo Atlanta have just been overthe top. I hope he doesn't give up some of his efforts that have meanf so much to the Atlanta I just admire the heck outof him." 53, came to Cousins (NYSE: CUZ) when the REIT boughgt his firm, , in June 2005. Gellersted served as chairman and chief executive officer of the from 1986to 1998.
In after the sale of Beers to , he was electee chairman and CEOof , a packagintg and printed office products company. In Gellerstedt became president and chief operating officetof , an urban mixed-use development He went on to found The Gellerstedyt Group in 2003. In other companty news, Cousins’ board of directors named S. Taylof Glover non-executive chairman of the Glover joined the Cousins board inFebruary 2005.
He is currentlgy the president and chief executive officerfof
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