Vornado's Roth Says He's `Fine,' Plans to Keep Running Company
(Bloomberg) -- Eight months after heart bypass surgery, Vornado Realty Trust Chairman and Chief Executive Officer Steven Roth said he feels “fine” and plans to continue running the company.
“BTW, I feel fine...thanks for asking,” Roth, 76, wrote at the end of his annual letter to investors. In the company’s proxy statement, also filed Friday, Roth is listed as running to keep his position as Vornado’s chairman.
In mid-August, Roth underwent bypass surgery and spent the rest of the month on medical leave. On Vornado’s Oct. 31 earnings call, Roth told investors, “I’m not quite done yet” and sought to assure them that the company has a “robust” succession plan for when he’s ready to step down.
“I have run Vornado since 1980...that’s a long time,” Roth wrote in the letter Friday. “In the beginning, the equity value of Vornado was $35 million. Today it is over $19 billion at NAV,” or net asset value.
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