Howard M. Sipzner, 51, was “terminated” on Monday after
being with the Radnor, Pa., real estate investment trust since 2006. In a
filing with the Securities and Exchange Commission, Brandywine said Sipzner’s
departure “will be deemed a termination by the company for reasons other than
cause.”
Sipzner, who also served as executive vice president, was
replaced with Thomas E. Wirth, 50.
Wirth joined Brandywine in 2009 as an executive vice
president overseeing its portfolio management and investments. Prior to joining
Brandywine, Wirth served for five years as president and chief financial
officer of Feldman Mall Properties.
In a statement, Gerard H. Sweeney, Brandywine’s president
and CEO didn’t address why Sipzner was let go but thanked him for his
contributions to the company.
Of Wirth, Sweeney said that his “broad-based skill sets in
finance, accounting, investor relations and the capital markets will serve us
well in the efficient execution of our business plan.”
Source: Philadelphia
Business Journal
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