Veris Residential on Monday said it appointed two new independent directors, Ronald Dickerman, founder and president of Madison International Realty, and Stephanie Williams, president of Bozzuto Management Co. and a partner of the Bozzuto Group, to its board of directors, effective May 4.
Concurrently, Alan Batkin will retire from the board.
“As we near the completion of our transformation to a pure-play multifamily REIT, we do so with an acute focus on unlocking shareholder value, adhering to best-in-class corporate governance principles and remaining committed to all of our stakeholders,” Tammy Jones, board chair, said.
Dickerman brings more than 35 years of real estate transaction, financing and management experience to the board. Since founding Madison International Realty in 2002, he has built the firm into a global $8 billion assets-under-management, fully integrated real estate private equity platform and liquidity provider to real estate investors worldwide. Previously, Dickerman served as president and founder of First Equity Realty LLC. He began his career as an investment banker in the Real Estate/Partnership Finance Group at Smith Barney, Harris Upham & Co. Inc., where he was responsible for the origination, analysis, structuring, acquisition, asset management, disposition and marketing of real estate and other limited partnerships.
As one of the top female executives in multifamily property management — overseeing a portfolio of 90,000 units and 3.4 million square feet of retail across major markets nationally with a significant footprint in the New York area — Williams has proven herself a well-recognized leader in residential real estate operations, management and development. For nearly 20 years, she has held several positions within Bozzuto’s development and management divisions. As president, she oversees strategic performance and economic value creation, day-to-day operations of a 90,000-unit portfolio with a significant footprint in the New York area, and an array of initiatives designed to enhance the employee and customer journeys.
Veris Residential retained Ferguson Partners in support of its board refreshment, which was part of the board’s ordinary course annual review of its composition.