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There's a new man on the top rung of Realty Income's (NYSE: O ) executive ladder. The company announced that its board has tapped John Case for the position. He takes the place of the retiring Tom Lewis, who will stay on until early 2014 in order to "assist with the transition" while continuing to serve in his capacity of board vice chairman.
Before joining Realty Income, Case was an executive on the real estate teams of Royal Bank of Canada's RBC Capital Markets, UBS (NYSE: UBS ) , and Merrill Lynch, now a unit of Bank of America (NYSE: BAC ) .
In the press release announcing Case's appointment, Realty Income pointed out that he is only the third CEO in the company's four decade-long history. Lewis had held that post since 1997.