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IN BRIEF

Grubb & Ellis CEO Resigns in Shake-Up

March 18, 2003|From Bloomberg News

Grubb & Ellis Co. President and Chief Executive Barry Barovick resigned after less than two years at the property brokerage.

Barovick's His resignation is part of a shake-up at the company since Michael Kojaian took over as chairman last year. Analysts said the changes suggest Grubb & Ellis, whose fourth-quarter revenue fell 13% to $88 million, may scale back corporate consulting in the face of falling commission income.

Shares of Northbrook, Ill.-based Grubb & Ellis rose 15 cents to $1.45 in over-the- counter trading.

From Bloomberg News

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