Cousins Properties names Tom Bell, President and Chief Executive Officer

By wire reports

Posted 8:31AM on Tuesday 29th January 2002 ( 23 years ago )

ATLANTA - Cousins Properties Incorporated today announced that the Board of Directors has elected Thomas D. Bell, Jr. President and Chief Executive Officer of the Company effective immediately. Mr. Bell had previously served as the Company's Vice Chairman of the Board of Directors and Chairman of the Executive Committee. As disclosed in a January 7, 2002 press release, R. Dary Stone is stepping down as President and Chief Operating Officer to assume responsibility of Cousins' Texas operations, which is effective today. Cousins' current Chairman and Chief Executive Officer, Thomas G. Cousins, will remain Chairman of the Board. "I strongly believe that part of any Chief Executive Officer's responsibility and success is to find the right successor," Cousins said. "After more than 40 years as CEO of Cousins, it is time to transition to fresh, energized leadership and I am confident that Tom Bell is the right person for the job. I've known Tom for several years and am impressed by his business judgment, strategic thinking and the contributions he has already made to the Company through our Board and Executive Committee. He is a proven leader at the Fortune 500 level with very broad business experience that is well suited to Cousins Properties. Furthermore, he will be supported by one of the most respected and experienced management teams in the real estate industry. Tom's enormous leadership capability and high-level corporate relationships make for a potent combination that will continue the legacy of Cousins and the remarkable success we have achieved during the past four decades." Mr. Bell brings a wealth of experience in corporate management, governance and leadership in both the public and private sector to Cousins in his new role. He most recently served as a senior advisor to Credit Suisse First Boston overseeing the company's real estate activities. He spent the previous ten years at Young & Rubicam Inc., retiring as Chairman and Chief Executive Officer when it merged with WPP. He is a member of the boards of Lincoln Financial Group, McLeod USA and the U.S. Chamber of Commerce and a member of the board of trustees of the Center for Excellence in Education, the Central Park Conservancy, The Economic Club of New York and New York Presbyterian Hospital. Cousins Properties Incorporated, headquartered in Atlanta, has extensive experience in the real estate industry including the development, acquisition, financing, management and leasing of properties.

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