Michael D. Fascitelli served as the President and CEO of Vornado Realty Trust, familiar names in real estate investment, from 2009 until his resignation in 2013. During his leadership, he focused on aligning executive pay with company performance, earning a...

Michael D. Fascitelli served as the President and CEO of Vornado Realty Trust, familiar names in real estate investment, from 2009 until his resignation in 2013. During his leadership, he focused on aligning executive pay with company performance, earning a total compensation of over $7 million in 2012 alone. Notably, he was awarded substantial restricted units that tied his financial success to the company's stock performance. Michael's legacy at Vornado includes a shift towards performance-based incentives for executives. Aside from Vornado, he also had a significant role at Alexander's, Inc., where he similarly served as President. His career began at Vornado in 1996, and he had been its President before taking the CEO role in 2009. After stepping down, he remained involved with the company as a board member. Michael’s substantial vested stock in Vornado speaks to his deep engagement with the firm's success, especially as the value of his shares fluctuated significantly, even peaking at over $28 million through vested stocks at one point. He left an imprint by ensuring his personal wealth was closely tied to the company’s fortunes, a lesson for aspiring leaders in the corporate world.