Chris Kennedy leaving MMPI

Home Accents Today Staff -- Home Accents Today, 6/24/2011 10:04:19 AM

Christopher Kennedy

Christopher Kennedy is stepping down as president of Merchandise Mart Properties Inc. next month, the Chicago Sun Times reported today.

Kennedy, 47, will step down as president of MMPI, the owner of the Chicago Merchandise Mart and other properties by July 22. He joined the organization in 1987. Mark Falanga, who has been with MMPI for 17 years, will take over as president on July 23.

"I have valued every single day that I've been here and always will," Kennedy said in a statement, adding, "I am sure that many will ask why I don't stay longer, and many others will ask why I have stayed so long. Personally, I think I've got the timing just right, and I propose that I am young enough to start a new career - and old enough to know how."

Kennedy will continue in a formal consulting role with MMPI through the end of March 2012. He plans to pursue entrepreneurial business developments as well as continuing his positions on the boards of theMark Falanga University of Illinois, Ariel Investment Trust and Interface Floor Covering Company, and his charitable involvements with the Catholic Theological Union, the Chicago Alliance to End Homelessness and The Chicago Community Trust.

Falanga most recently served as senior vp, managing leasing, marketing and business development for several of MMPI's businesses, including commercial furnishings, LuxeHome, office, retail and art, plus heading up MMPI's acquisitions efforts. He oversaw the development and leasing efforts of the Cleveland Medical Mart and Convention Center, scheduled to open in 2013, and led the acquisition of IIDEX/NeoCon Canada and the expansion of MMPI's efforts with NeoCon East.

Myron Maurer, a 24-year veteran of the company, will take on the new role of chief operating officer.

MMPI's High Point Market showroom properties were acquired by High Point Acquisition Co. in March.