PREIT announced its intention to promote Mario C. Ventresca, Jr., Executive Vice President – Operations, to Executive Vice President and Chief Financial Officer. He will replace current Executive Vice President and Chief Financial Officer Bob McCadden who will leave the Company effective December 31, 2019. Mr. McCadden will transition his current responsibilities to Mr. Ventresca over the balance of the year.

A Temple University graduate, Mr. Ventresca spent the first ten years of his career in accounting and finance positions. He joined PREIT in 1994 and currently serves as Executive Vice President of Operations overseeing the Company's Leasing, Asset and Property Management functions. He has developed a diverse skill set through his many roles within the Company, having served in Acquisitions and Asset Management capacities and managing the Company's sector-leading disposition program.