Pennsylvania Real Estate Investment Trust announced that Glenn J. Rufrano has been appointed as Executive Chairman of the Board of Managers effective immediately, and will work alongside current Board Members, Vishal Chanani of Redwood Capital Management, LLC and Eric Hsiao of Nut Tree Capital Management, LP. Mr. Rufrano has over 35 years of experience specializing in stabilizing and repositioning publicly traded and private real estate companies. Mr. Rufrano most recently served as the Chairman of the International Council of Shopping Centers Inc. Prior to this, Mr. Rufrano served as Chief Executive Officer of VEREIT Inc., a real estate investment trust which owned nearly 90 million square feet of retail property in the U.S. at the time of its merger with Realty Income Corporation, President and Chief Executive Officer of Cushman & Wakefield Inc., one of the world's largest commercial real estate services companies, Chief Executive Officer of Centro Properties Group, an Australian public LPT, which owned 22 million square feet of retail property in Australia and 100 million square feet in the U.S., Chief Executive Officer of New Plan Excel Realty Trust Inc., and Chairman and CEO, and among the founders, of O'Connor Capital Partners.