American Realty Capital Properties, Inc. announced that the Board of Directors has named Glenn J. Rufrano, Chief Executive Officer effective April 1, 2015. Mr. Rufrano will bring to ARCP more than 30 years of experience growing and creating shareholder value in the commercial real estate industry. Mr. Rufrano succeeds William Stanley, who has held the position on an interim basis since December 2014.

Mr. Stanley will continue as interim Chairman of the Board until the Board completes its search for a Non-Executive Chairman. Throughout his career, Mr. Rufrano has strengthened each of the organizations he has led. As CEO of Centro, Mr. Rufrano successfully led the company through the global financial crisis.

During this period, Mr. Rufrano oversaw a vital financial restructuring exercise to refinance Centro's debt. Centro emerged from a point of near-collapse to a stable position. As President and CEO of Cushman & Wakefield, he helped revitalize the world's large privately held commercial real estate services firm following the financial crisis.

Mr. Rufrano joins ARCP from O'Connor Capital Partners, where he had been Chairman and CEO since 2013. He is currently a member of the Board of Directors of Ventas, Inc. and is a trustee of the International Council of Shopping Centers (ICSC). He was previously a director of General Growth Properties.

With the restatement of the company's financial statements completed, the company announced with the appointment of a new CEO, Leslie Michelson and Governor Edward Rendell have decided that it is the right time for them to step down from the Board effective April 1, 2015 to make way for new directors.