Michael D. Fascitelli

Michael D. Fascitelli is CEO, President and a Trustee of the Board of Vornado Realty Trust. He also is President and a Trustee of Alexander's Inc. and on the Board of Toys "R" Us.

Mr. Fascitelli grew up in Providence, Rhode Island. One of two sons to a tailor and a seamstress. He was the first in his family to go to college, and is a heartwarming rags to riches story.

He is a member of the Class of 1978 of the University of Rhode Island where he received his B.S. in Industrial Engineering Summa Cum Laude. After graduating from URI, Mr. Fascitelli joined the Bristol-Myers Company. In 1982 he received his MBA with highest distinction from the Harvard Graduate School of Business Administration. After graduating from Harvard in 1982, Mr. Fascitelli joined McKinsey & Company, Inc., a management-consulting firm.

He was head of the real estate investment banking business of Goldman, Sachs & Co. and served on the Investment Committee for the Whitehall Real Estate Fund. He joined Goldman, Sachs & Co. in 1985 in the Real Estate Department and became a partner in 1992.

In 1996 Vornado Chairman billionaire Steven Roth lured Fascitelli to Vornado with an offer at the time worth 50 million dollars. The number had risen substantially as since Mr. Fascitelli has been at Vornado it has become the second largest REIT in the country.^[1]

Mr. Fascitelli has been active over the years in the real estate industry and his community. He is a trustee of the Urban Land Institute. He is Chairman of the Wharton Real Estate Center and Executive Committee. He serves on the Board of the New York University Child Study Center, The Rockefeller University Board of Trustees and St. Bernard's Board of Trustees. From the Greater New York Councils Boy Scouts of America he received the Good Scout award and the James E. West Fellow award in 1997 and he received the Silver Beaver Award in 2003. In May 2008, he received his Doctor of Laws from the University of Rhode Island.^[2]

In 2007 he was also name Harvard Business School's Alumni of the Year. He is a strong supporter to URI as he gave 1 million dollars to them last year, and set up a scholarship in his name.

In 2006, Fascitelli showed insight into the future economy as he sold one third of his stock, 1.3 million shares, and took home around $157 million.^[3]

In 2006, Fascitelli also bought a monmouth $16 million dollar spread in 170 East End. The highrise going up is being developed by Oren Wilf, and includes a golf simulator, movie theater, and squash courts. Fascitelli's 17th floor spread include an indoor two-hoop basketball court, a computer room, a wine cellar, a breakfast area, a TV/video room, and huge bathrooms, closets, bedrooms, and balconies.^[4]

On May 14, 2009 Vornado issued a press release announcing that Fascitelli would become CEO of the company immediately while remaining President, with Roth remaining Chairman of the Board.

Fascitelli is married to his wife Elizabeth, a partner at Goldman Sachs, and has three sons Nick, 17, Matt, 16, and Jack, 13.^[5]

References

1. ^ http://query.nytimes.com/gst/fullpage.html?res=9507E4D8103CF930A35751C1A960958260&scp=1&sq=michael%20fascitelli&st=cse
2. ^ ttp://www.vno.com/corporate_governance/michael_d_fascitelli.phtml
3. ^ http://www.thestreet.com/p/newsanalysis/realestate/10322384.html
4. ^ http://www.observer.com/2007/big-buys-170-east-end-michael-fascitelli-spends-over-16-m-basketball-court-included
5. ^ http://www.projo.com/projohomes/content/BZ_FASCITELLI_01-22-08_0I8KIST_v13.1d54464.html

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Name	Fascitelli, Michael D.
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