Costa Mesa, Calif. Retail real estate firm Donahue Schriber announced Wednesday that its co-founder Thomas L. Schriber, also chairman of the board, has retired, relinquishing his role to president, CEO and 30-year company veteran Patrick S. Donahue as part of the company’s succession plan.
The company said that Schriber is staying on as chairman emeritus and an active board member while Donahue assumes the responsibilities of chairman of the board and continues to serve as CEO.
Schriber has spent the past 41 years at the helm of Donahue Schriber, the company he established with his late partner, Daniel W. Donahue.
As part of the transition, Lawrence P. Casey takes on the role of president, adding to his duties as COO. During his more than 33 years in real estate and investment, Casey has managed over $4.5 billion of assets nationally. He joined Donahue Schriber in 2000 as its CFO.