02/15/13 - GYRODYNE NAMES NEW CEO; CONTINUES STRATEGIC PROCESS WITH LOWER MONTHLY FINANCIAL ADVISORY FEES

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11/19/12 - GYRODYNE DECLARES $38.30 PER SHARE SPECIAL DIVIDEND

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GYRODYNE NAMES NEW CEO;
CONTINUES STRATEGIC PROCESS
WITH LOWER MONTHLY FINANCIAL ADVISORY FEES

Gyrodyne announced today that it has completed its previously-disclosed Chief Executive Officer search process and has appointed Frederick C. Braun III as its new President and Chief Executive Officer, effective February 25, 2013. Mr. Braun’s entire 46 year professional career was devoted to commercial banking, most recently having served as Executive Vice President of the State Bank of Long Island from 2000 to September of 2009. State Bancorp, Inc. was acquired by Valley National Bancorp effective January 1, 2012. Mr. Braun, is also currently the Chairman of the Brookhaven Industrial Development Agency, a public benefit corporation of the State of New York that assists in the acquisition, construction, reconstruction, and equipping of commercial and industrial facilities. He has served in such capacity for approximately 25 years. In addition, he serves on the boards of several not-for-profit organizations including Brookhaven Memorial Hospital Medical Center where he has been a member since 1980.

In connection with the appointment of Mr. Braun as President and Chief Executive Officer, Gary J. Fitlin, who had been serving as interim President and Chief Executive Officer since September 2012, resigned from such position, effective as of February 25, 2013. Mr. Fitlin will continue to serve as the Company’s Chief Financial Officer and Treasurer, a position he has held since joining the Company in October 2009.

See full press release here.