Verdery to continue Caruso’s record-breaking success in 2021 with an impressive pipeline of new development projects
Los Angeles, Calif. (February 18, 2022) – Caruso, one of the largest and most admired privately held real estate development and management companies in the U.S., shared a succession plan today should Founder and CEO Rick Caruso be elected as Mayor of Los Angeles. Chief Development Officer Corinne Verdery will assume the top leadership role in the company as Chief Executive Officer, working closely with the other two members of the Company’s Office of the Chief Executive comprised of Chief Financial and Revenue Officer Jackie Levy and General Counsel Ben Howell.
Caruso, who announced his candidacy this week, would if elected begin his term as Mayor of Los Angeles at the end of the year. As the company’s Chief Development Officer, Verdery is uniquely poised to sustain Caruso’s remarkable momentum, following a record-breaking financial year in 2021 and the strongest pipeline of new projects in company history.
“I built Caruso on the belief in surrounding myself with the most talented and dedicated professionals in the industry,” said Rick Caruso. “In my years of working with Corinne as head of Development for our company, she has exhibited unmatched intellect and leadership. The company’s future couldn’t be brighter, and there is no one better suited to carry on our track record of success than Corinne.”
Verdery joined Caruso in 2016 following her tenure as Chief Real Estate Development Officer at NBC Universal. In her five years with the company, Verdery has overseen the development of the five-star Rosewood Miramar Beach Resort in Montecito, CA and Palisades Village, a first of its kind mixed-use project in Pacific Palisades, CA, as well as the acquisition of new Caruso properties. In addition, she managed new zoning approvals for expansion of The Lakes in Thousand Oaks and directed the renovation of significant tenant spaces across the Caruso portfolio. Throughout her career, the hallmark of her approach is the equal importance she places on the details of development and on meaningful community collaboration. She has spent a significant amount of her time partnering with homeowner leaders and community stakeholders, and providing her expertise to numerous non-profit organizations and educational institutions. Most recently, she was the recipient of the 2019 Distinguished Alumni Award from the USC School of Architecture.
“I am incredibly grateful to Rick for giving me the opportunity of a lifetime at the helm of Caruso. I have learned so much under his extraordinary leadership these last five years and have been honored to work alongside the exceptionally talented organization he has built,” said Verdery. “The magic of Caruso stems from Rick’s inimitable vision and the company culture he has so carefully nurtured. I look forward to working closely with the entire Caruso team to usher in this exciting next chapter for the company.”