Mr. Wolstein was appointed Executive Chairman of the Board of Directors on January 1, 2010. He had served as the Chief Executive Officer and a Director of Developers Diversified Realty since its organization in 1992. Mr. Wolstein was Chairman of the Board of Directors of the Company from May 1997 through December 2009. Prior to the organization of the Company, Mr. Wolstein was a principal and executive officer of Developers Diversified Group, the Company's predecessor.
He graduated cum laude from both the Wharton School at the University of Pennsylvania and the University of Michigan Law School. Following law school, Mr. Wolstein was associated with the law firm of Thompson Hine.
Mr. Wolstein is currently a member of the Board of Governors of the National Association of Real Estate Investment Trusts (NAREIT); Board of Directors of the Real Estate Roundtable; Board of Trustees for Case Western Reserve University; Board of Directors for United Way of Greater Cleveland; Board Member of the Greater Cleveland Partnership; Board Member of the Cleveland Development Advisors; and member of the Executive Committee and Board of Trustees of the Zell-Lurie Wharton Real Estate Center. He is also a current member of the Urban Land Institute, PREA, and the World Presidents' Organization.
He has also served as Chairman of the State of Israel Bonds - Ohio Chapter; a Trustee of the International Council of Shopping Centers; Board of Directors of University Hospitals Health Systems; President of the Board of Trustees of the United Cerebral Palsy Association of Greater Cleveland; Board of Directors and Executive Committee Member of the Cleveland Chapter of the Red Cross; Board Member of the Cleveland Chapter of the Anti Defamation League, and a member of the Board of the Great Lakes Theater Festival; The Park Synagogue; and the Convention & Visitors Bureau of Greater Cleveland. Mr. Wolstein is a four-time recipient of the Realty Stock Review's Outstanding CEO Award.
In 2007, he received the Malden Mills Corporate Kindness Award from Project Love, a Cleveland-based organization whose mission is to promote kindness, caring and mutual respect among, for and through our children.
Chair of the Dividend Declaration Committee
Chair of the Pricing Committee
Member of the Executive Committee
Daniel B. Hurwitz
President & Chief Executive Officer
Mr. Hurwitz was appointed President & Chief Executive Officer of Developers Diversified on January 1, 2010. He had served as President & Chief Operating Officer of the Company from May 2007 through December 2009, as Senior Executive Vice President & Chief Investment Officer from May 2005 to May 2007, and as Executive Vice President from June 1999 through April 2005. Mr. Hurwitz joined the Company's Board of Directors in June 2009, and previously served on the board from May 2002 to May 2004.
Mr. Hurwitz is responsible for developing, refining and executing Developers Diversified's corporate strategy, policies, goals and objectives. This role is accountable for company performance and reports to the Board of Directors. Also, he is a member of the Company's executive, management and investment committees.
Prior to joining Developers Diversified, Mr. Hurwitz served as Senior Vice President and Director of Real Estate and Corporate Development for Boscov's Department Store, Inc. Prior to Boscov's, Mr. Hurwitz served as Development Director for the Shopco Group, a New York City-based developer and acquirer of regional and super regional shopping malls.
Mr. Hurwitz is a graduate of Colgate University and the Wharton School of Business Management Program at the University of Pennsylvania. He is a frequent speaker at real estate industry functions, including the International Council of Shopping Centers (ICSC), Urban Land Institute (ULI), and The University of Wisconsin-Madison James A. Graaskamp Center for Real Estate.
Professionally, Mr. Hurwitz is a member of the Board of Trustees of U-Store-It Trust (NYSE: YSI), where he serves on the audit committee and as chair of the executive compensation committee; a director of EDT Retail Management Limited, the manager of EDT Retail Trust (ASX:EDT); a member of the Developers Diversified/Sonae Sierra Brasil advisory committee that oversees all venture activities in Brazil; a member of ICSC, a member of the ICSC Board of Trustees, co-chair of ICSC's open-air centers committee and a member of the ICSC Political Action Committee. He is also a member of ULI and serves as Vice Chairman of the CRC Blue Council. In addition, Mr. Hurwitz is a member of The Samuel Zell and Robert Lurie Real Estate Center at The Wharton School, University of Pennsylvania, where he serves in the Career Mentor Program.
Additionally, Mr. Hurwitz is a member of the Colgate University Board of Trustees; a member of the Board of Trustees of Hawken School; and a member of the Leadership Board for the Neurological Institute at the Cleveland Clinic.
He has also served as a member of the Board of Regents for the University System of Ohio and the Board of Directors of the Colgate University Alumni Corporation, Colgate University Maroon Council, Boscov's Department Store, Inc., The Network, Applewood Centers and the Cleveland Children's Museum.
Member of the Executive Committee
Terrance R. Ahern
Co-founder and Principal, The Townsend Group
Terrance R. Ahern is a co-founder and principal of The Townsend Group, an institutional real asset advisory firm formed in 1986, which consults or advises domestic and offshore public and private pension plans, endowments and foundations, sovereign wealth funds and multi-manager funds. Mr. Ahern was formerly a member of the Board of Directors of the Pension Real Estate Association (PREA) and the Board of Governors of the National Association of Real Estate Investment Trusts (NAREIT). Prior to founding The Townsend Group, Mr. Ahern was a vice president of a New York-based real estate investment firm and was engaged in the private practice of law. Mr. Ahern received a B.A. and J.D. from Cleveland State University.
Former President and Chief Executive Officer, Cavaliers Operating Company, LLC Retired Vice Chairman of Ernst & Young LLP
James C. (Jim) Boland spent 34 years with Ernst & Young. He joined Ernst & Young in 1964 after spending two years as an officer in the United States Army. Mr. Boland became a partner in 1976 and served as a member of the firm's management committee from 1988 to 1997. He also had operating responsibility as Vice Chairman and Regional Managing Partner of Ernst & Young's Central Region from 1988 to 1996. After Ernst & Young, Mr. Boland served as President, CEO and Vice Chairman of the Cavaliers Operating Company, LLC, from 1998 to 2007.
Mr. Boland serves on the Board of Directors for The Sherwin-Williams Company, where he chairs the Audit Committee and serves on the Nominating and Corporate Governance Committees; Invacare Corporation, where he is lead director, chairs the Governance and Compensation and Management Development Committees and serves on the Audit Committee; and The Goodyear Tire & Rubber Company, where he is the lead director, chairs the Audit Committee and serves on the Governance Committee and Developers Diversified Realty Corporation, where he serves on the audit and executive compensation committees.
Dr. Finne is the Managing Director of KG CURA Vermögensverwaltung GmbH & Co., a commercial real estate company located in Hamburg, Germany, that manages assets in North America and Europe.
Prior to joining KG CURA Vermögensverwaltung GmbH & Co. in 1992, Dr. Finne was responsible for controlling, budgeting, accounting and finance for Bernhard Schulte KG, a ship owner and ship manager located in Hamburg, Germany. He is currently serving as a Director of C.J. VOGEL Aktiengesellschaft für Beteiligungen.
Dr. Finne graduated with an undergraduate degree in business administration and received his doctorate from the International Tax Institute at the University of Hamburg.
Member of the Dividend Declaration Committee
Robert H. Gidel
Managing Member, Liberty Partners LLC
Robert H. Gidel has been the Managing Member of Liberty Partners LLC, a partnership that makes investments in real estate operating companies and partnerships, since 1998. He is a member of the board of directors of Global Signal Inc., a REIT, of which he is a member of the governance committee and the compensation committee. He is also a trustee of Fortress Registered Investment Trust and a director of Fortress Investment Fund II, LLC, both of which are registered investment companies. Since 1996, Mr. Gidel has been the independent member of the investment committee of the Lone Star Funds (I, II, III, IV & V). This committee approves but does not generate all investments made by the Lone Star Opportunity Funds. He is a graduate of the Warrington College of Business at the University of Florida.
Dr. Volker Kraft is Director of Commercial Project Management for ECE, where he is responsible for commercial real estate project management in Central and Eastern Europe. Dr. Kraft is also a Managing Director of ECE Investment International GmbH, with responsibility for the development of an institutional real estate fund management platform in Europe.
Prior to joining ECE in 2008, Dr. Kraft was a Director of Allianz Capital Partners GmbH, a private equity firm located in Munich, Germany, where he was a member of the management team and the internal investment committee from 2001. During that time, Dr. Kraft served as a member of the Advisory Board and Shareholders' Committee of Germany-based Bartec GmbH, Bad Mergentheim, an electronic components company, and as a member of the Supervisory Board of Scandlines AG, Rostock, a ferry services company also based in Germany.
Dr. Kraft graduated with a degree in business administration and received his doctorate in finance from the University of St. Gallen, Switzerland.
Member of the Executive Committee
Victor B. MacFarlane
Managing Principal, MacFarlane Partners
Victor B. MacFarlane has been the Managing Principal of MacFarlane Partners, which provides real estate advisory services to institutional investors, since he founded the partnership in 1987. Mr. MacFarlane has 24 years of real estate experience and holds a master's degree in business administration from the University of Pittsburgh, a juris doctor degree from the University of California, Los Angeles, and a bachelor's degree in university studies from the University of New Mexico. He is a member of the boards of trustees of both the Urban Land Institute and the Initiative for a Competitive Inner City. He serves on the Board of Directors of Stanford Hospital & Clinics and the policy advisory board of the Fisher Center for Real Estate and Urban Economics at the University of California, Berkeley. He also is a member of the International Council of Shopping Centers, the Pension Real Estate Association (PREA), the Chief Executives Organization and the World Presidents Organization.
Chief Executive Officer, National Retail Properties, Inc.
Craig Macnab has served as the Chief Executive Officer and a Director of National Retail Properties, Inc., a publicly traded real estate investment trust, since February 2004 and as Chairman of the Board since February 2008. Mr. Macnab was the Chief Executive Officer, President and a Director of JDN Realty Corporation ("JDN") from 2000 to 2003, when JDN was acquired by the Company. Prior to joining JDN, Mr. Macnab was a consultant from 1999 through April 2000. Mr. Macnab is also currently a director of Eclipsys Corporation, a provider of clinical and financial software to the healthcare industry.
Former Chief Executive Officer of Fairport Asset Management, LLC
Scott D. Roulston spent 30 years with Fairport Asset Management, a registered investment advisor, and its predecessor firm, Roulston & Company. From 1990 to 2010 he was the firm's Chief Executive Officer. He is a member of World Presidents Organization and past Chapter Chairman and Regional Vice President for Young Presidents Organization. He is a Trustee and President of Bluecoats, Inc, and a frequent commentator on NPR. Mr. Roulston is a graduate of Dartmouth College with a degree in Economics.
Barry A. Sholem became a partner of MSD Capital, L.P., an investment fund, and head of its real estate group in March 2004. He was at Goldman Sachs from 1980 to 1994 and headed the Real Estate Group in the west. From 1995 until August 2000, Mr. Sholem was the Chairman of Donaldson, Lufkin & Jenrette, Inc. Real Estate Capital Partners, a $2 billion real estate fund that invests in a broad range of real estate-related assets, which he formed in January 1995. From August 2000 to November 2003 he was Managing Director of Credit Suisse First Boston. Mr. Sholem is a graduate of Brown University and Northwestern University's J.L. Kellogg Graduate School of Management. He is currently active in the Urban Land Institute (RCMF Council), the International Council of Shopping Centers, the U.C. Berkeley Real Estate Advisory Board and the Business Roundtable.
Retired Non-Executive Chairman, McDonald Investments Inc.
William B. Summers, Jr. had been the Non-Executive Chairman of McDonald Investments Inc., an investment banking, brokerage and investment advisory firm, from 2000 until retiring in 2006. From 1994 until 1998, Mr. Summers was the President and Chief Executive Officer of McDonald Investments Inc. and from 1998 until 2000, Mr. Summers was the Chairman and Chief Executive Officer of McDonald Investments Inc. Mr. Summers is also currently a director of Wilson Greatbatch Technologies, Inc. and RPM International Inc., and a member of the Advisory Board of Molded Fiber Glass Companies and the Board of Executives of the New York Stock Exchange.
Founder and Chairman Emeritus Developers Diversified Realty In memoriam February 23, 1927 — May 17, 2004
Bert L. Wolstein founded Developers Diversified Group, the predecessor to Developers Diversified Realty, in 1965. He served
as Chairman from 1993 through 1996 and as Chairman Emeritus of the Company from 1997 until his passing in 2004. Mr.
Wolstein was a General Partner of The Wolstein Group, a real estate development company, and the Chairman and Chief
Executive Officer of Heritage Development Company, a real estate development company.
Mr. Wolstein was owner and president of the Cleveland Force of the Major Indoor Soccer League from 1979 to 1988.
Mr. Wolstein was devoted to many civic and charitable organizations, including The Boys and Girls Club, Garfield Society of Hiram College, the President's Club of The Ohio State University, the State of Israel Bonds (Cleveland), the Jewish Welfare Fund, Cuyahoga Community College, the Ohio Building Authority,Park Synagogue and Soloman Schecter School.
Mr. Wolstein received numerous awards for his philanthropic efforts, including the Gold Medallion for Humanitarianism awarded to Mr. Wolstein and his wife, Iris, by the B'nai B'rith International, Citizen of the Year by the Cleveland Area Board of Realtors, Special Recognition Award presented by the Cleveland Touchdown Club for his outstanding contribution to Greater Cleveland sports, Distinguished Service Award from the Cleveland Theater District and Weatherhead Excellence in Management Award presented to Mr. Wolstein and his son, Scott, for their management of Developers Diversified. In October 2003, Mr. and Mrs. Wolstein were presented with the Samuel Mather Award, honoring them for their exemplary and generous support of University Hospitals of Cleveland. His extensive fundraising efforts also have benefited United Cerebral Palsy, The Ohio State University and The Weatherhead School of Management at Case Western Reserve University.
Mr. Wolstein attended Western Reserve University and received a law degree from Cleveland State University John Marshall Law School.
Stock Information
Ticker:
DDR
Exchange:
NYSE
Last Trade:
$11.41
Change:
0.16
Volume:
143,700
Jul 29, 2010 9:48 AM ET
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Mr. Wolstein was appointed Executive Chairman of the Board of Directors on January 1, 2010. He had served as the Chief Executive Officer and a Director of Developers Diversified Realty since its organization in 1992. Mr. Wolstein was Chairman of the Board of Directors of the Company from May 1997 through December 2009. Prior to the organization of the Company, Mr. Wolstein was a principal and executive officer of Developers Diversified Group, the Company's predecessor. 
Chair of the Dividend Declaration Committee
Member of the Executive Committee
Mr. Hurwitz was appointed President & Chief Executive Officer of Developers Diversified on January 1, 2010. He had served as President & Chief Operating Officer of the Company from May 2007 through December 2009, as Senior Executive Vice President & Chief Investment Officer from May 2005 to May 2007, and as Executive Vice President from June 1999 through April 2005. Mr. Hurwitz joined the Company's Board of Directors in June 2009, and previously served on the board from May 2002 to May 2004. 
Terrance R. Ahern is a co-founder and principal of The Townsend Group, an institutional real asset advisory firm formed in 1986, which consults or advises domestic and offshore public and private pension plans, endowments and foundations, sovereign wealth funds and multi-manager funds. Mr. Ahern was formerly a member of the Board of Directors of the Pension Real Estate Association (PREA) and the Board of Governors of the National Association of Real Estate Investment Trusts (NAREIT). Prior to founding The Townsend Group, Mr. Ahern was a vice president of a New York-based real estate investment firm and was engaged in the private practice of law. Mr. Ahern received a B.A. and J.D. from Cleveland State University.
James C. (Jim) Boland spent 34 years with Ernst & Young. He joined Ernst & Young in 1964 after spending two years as an officer in the United States Army. Mr. Boland became a partner in 1976 and served as a member of the firm's management committee from 1988 to 1997. He also had operating responsibility as Vice Chairman and Regional Managing Partner of Ernst & Young's Central Region from 1988 to 1996. After Ernst & Young, Mr. Boland served as President, CEO and Vice Chairman of the Cavaliers Operating Company, LLC, from 1998 to 2007.
Dr. Finne is the Managing Director of KG CURA Vermögensverwaltung GmbH & Co., a commercial real estate company located in Hamburg, Germany, that manages assets in North America and Europe.
Robert H. Gidel has been the Managing Member of Liberty Partners LLC, a partnership that makes investments in real estate operating companies and partnerships, since 1998. He is a member of the board of directors of Global Signal Inc., a REIT, of which he is a member of the governance committee and the compensation committee. He is also a trustee of Fortress Registered Investment Trust and a director of Fortress Investment Fund II, LLC, both of which are registered investment companies. Since 1996, Mr. Gidel has been the independent member of the investment committee of the Lone Star Funds (I, II, III, IV & V). This committee approves but does not generate all investments made by the Lone Star Opportunity Funds. He is a graduate of the Warrington College of Business at the University of Florida.
Dr. Volker Kraft is Director of Commercial Project Management for ECE, where he is responsible for commercial real estate project management in Central and Eastern Europe. Dr. Kraft is also a Managing Director of ECE Investment International GmbH, with responsibility for the development of an institutional real estate fund management platform in Europe. 
Victor B. MacFarlane has been the Managing Principal of MacFarlane Partners, which provides real estate advisory services to institutional investors, since he founded the partnership in 1987. Mr. MacFarlane has 24 years of real estate experience and holds a master's degree in business administration from the University of Pittsburgh, a juris doctor degree from the University of California, Los Angeles, and a bachelor's degree in university studies from the University of New Mexico. He is a member of the boards of trustees of both the Urban Land Institute and the Initiative for a Competitive Inner City. He serves on the Board of Directors of Stanford Hospital & Clinics and the policy advisory board of the Fisher Center for Real Estate and Urban Economics at the University of California, Berkeley. He also is a member of the International Council of Shopping Centers, the Pension Real Estate Association (PREA), the Chief Executives Organization and the World Presidents Organization.
Craig Macnab has served as the Chief Executive Officer and a Director of National Retail Properties, Inc., a publicly traded real estate investment trust, since February 2004 and as Chairman of the Board since February 2008. Mr. Macnab was the Chief Executive Officer, President and a Director of JDN Realty Corporation ("JDN") from 2000 to 2003, when JDN was acquired by the Company. Prior to joining JDN, Mr. Macnab was a consultant from 1999 through April 2000. Mr. Macnab is also currently a director of Eclipsys Corporation, a provider of clinical and financial software to the healthcare industry.
Scott D. Roulston spent 30 years with Fairport Asset Management, a registered investment advisor, and its predecessor firm, Roulston & Company. From 1990 to 2010 he was the firm's Chief Executive Officer. He is a member of World Presidents Organization and past Chapter Chairman and Regional Vice President for Young Presidents Organization. He is a Trustee and President of Bluecoats, Inc, and a frequent commentator on NPR. Mr. Roulston is a graduate of Dartmouth College with a degree in Economics.
Barry A. Sholem became a partner of MSD Capital, L.P., an investment fund, and head of its real estate group in March 2004. He was at Goldman Sachs from 1980 to 1994 and headed the Real Estate Group in the west. From 1995 until August 2000, Mr. Sholem was the Chairman of Donaldson, Lufkin & Jenrette, Inc. Real Estate Capital Partners, a $2 billion real estate fund that invests in a broad range of real estate-related assets, which he formed in January 1995. From August 2000 to November 2003 he was Managing Director of Credit Suisse First Boston. Mr. Sholem is a graduate of Brown University and Northwestern University's J.L. Kellogg Graduate School of Management. He is currently active in the Urban Land Institute (RCMF Council), the International Council of Shopping Centers, the U.C. Berkeley Real Estate Advisory Board and the Business Roundtable.
William B. Summers, Jr. had been the Non-Executive Chairman of McDonald Investments Inc., an investment banking, brokerage and investment advisory firm, from 2000 until retiring in 2006. From 1994 until 1998, Mr. Summers was the President and Chief Executive Officer of McDonald Investments Inc. and from 1998 until 2000, Mr. Summers was the Chairman and Chief Executive Officer of McDonald Investments Inc. Mr. Summers is also currently a director of Wilson Greatbatch Technologies, Inc. and RPM International Inc., and a member of the Advisory Board of Molded Fiber Glass Companies and the Board of Executives of the New York Stock Exchange.
Bert L. Wolstein founded Developers Diversified Group, the predecessor to Developers Diversified Realty, in 1965. He served
as Chairman from 1993 through 1996 and as Chairman Emeritus of the Company from 1997 until his passing in 2004. Mr.
Wolstein was a General Partner of The Wolstein Group, a real estate development company, and the Chairman and Chief
Executive Officer of Heritage Development Company, a real estate development company.
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