Business & Finance
Business and Finance
Business and Finance
Wed, March 23, 2011
Tue, March 22, 2011 
NEW YORK--([ BUSINESS WIRE ])--CapLease, Inc. (NYSE: LSE) announced today that Catherine Long has been elected to the Companya™s Board of Directors effective immediately. She is expected to stand for re-election at the June annual meeting of stockholders, when her current term expires.
"Stanley has been a valuable member of the Board of Directors since CapLease went public in March 2004. His wealth of experience and insight has greatly contributed to the success of our Company. We wish him well in the future."
Paul H. McDowell, CapLeasea™s Chairman of the Board, said, aWe are delighted to add Cathy to our Board. Her extensive accounting, finance and operations experience in the commercial real estate industry, including in the net lease market, makes her a truly unique candidate and she will be a strong addition to our team. I am confident that she will provide valuable insight as we continue to grow our Company and execute on our strategic objectives.a
Ms. Long, 54, served as Senior Vice President, Chief Financial Officer and Treasurer of Spirit Finance Corporation, a real estate investment trust focused on acquiring single tenant real estate leased to retail, distribution and service-oriented companies throughout the United States, from August 2003 until February 2010. Ms. Long also served on Spirit Finance Corporationa™s investment committee, among other committee appointments. Prior to 2003, Ms. Long served since 1990 in various capacities, including Principal Accounting Officer, with Franchise Finance Corporation of America, a real estate investment trust focused on the restaurant industry, and its successor, an affiliate of GE Capital. Prior to her employment with Franchise Finance Corporation of America, Ms. Long was a senior manager specializing in the real estate industry with the public accounting firm of Arthur Andersen. She received her degree in accounting with high honors from Southern Illinois University and has been a certified public accountant since 1980. Ms. Long received a CFO of the Year award for 2008 from the Arizona Chapter of Financial Executives International, a professional association for senior financial executives.
CapLease also announced that Stanley Kreitman will retire from the Companya™s Board of Directors, effective upon the expiration of his term at the Companya™s annual meeting of stockholders in June, as he has reached the Boarda™s retirement age.
Paul H. McDowell, CapLeasea™s Chairman of the Board, stated, aStanley has been a valuable member of the Board of Directors since CapLease went public in March 2004. His wealth of experience and insight has greatly contributed to the success of our Company. We wish him well in the future.a
About the Company:
CapLease, Inc. is a real estate investment trust, or REIT, that invests primarily in single tenant commercial real estate assets subject to long-term leases to high credit quality tenants.
