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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| NNN REIT Inc | NYSE:NNN | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -0.74 | -1.74% | 41.72 | 42.37 | 41.585 | 42.20 | 1,072,554 | 00:16:57 |
From May 2019 to May 2024
By Robbie Whelan
Veteran real-estate executive Glenn Rufrano has emerged as the leading candidate to become chief executive of American Realty Capital Properties Inc., according to people familiar with the search process.
Although terms of employment haven't been finalized, Mr. Rufrano has been interviewed for the position and the company regards him as the lone finalist, these people said.
American Realty Capital Properties's shares were down three cents, or 0.3%, at $10.07, in afternoon Nasdaq stock exchange trading. The stock has fallen about 19% since the company disclosed accounting irregularities on Oct. 29.
Several other real-estate executives, including Thomas Nolan, CEO of Spirit Realty Capital, and Craig MacNab, CEO of National Retail Properties Inc., have also been approached, but they told the company that they weren't interested, these people said.
Mr. Rufrano currently serves as chairman and chief executive of O'Connor Capital Partners, a privately held real-estate investment firm. He has held CEO titles at Australian shopping-center owner Centro Properties Group and real estate services firm Cushman & Wakefield Inc., among other positions.
ARCP has been without a permanent CEO or chairman since Dec. 15, when CEO David Kay and chairman and co-founder Nicholas Schorsch departed.
The moves came about six weeks after the company disclosed accounting errors in its first-quarter 2014 financial results that had been intentionally covered up in the second quarter. The irregularities shaved almost $3 billion from the company's stock-market value and prompted civil and criminal investigations from the Securities and Exchange Commission and the U.S. District Court for the Southern District of New York, which handles many high-profile white-collar criminal cases.
ARCP on Monday restated financial results for 2013 and the first three quarters of 2014. Interim chief Executive William Stanley said in a conference call that its top priority is finding a new CEO, and that it would name a new management team in the "near term.
Write to Robbie Whelan at robbie.whelan@wsj.com
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