SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): February 15, 2011
DEVELOPERS DIVERSIFIED REALTY CORPORATION
(Exact Name of Registrant as Specified in Charter)
Registrants telephone number, including area code: (216) 755-5500
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
TABLE OF CONTENTS
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 15, 2011, Developers Diversified Realty Corporation, an Ohio corporation (the Company), announced that Scott A. Wolstein would be stepping down as Executive Chairman of the Companys Board of Directors. Mr. Wolsteins separation from the Company as Executive Chairman will constitute a termination without cause in accordance with the terms of his Amended and Restated Employment Agreement with the Company, dated July 29, 2009 (the Employment Agreement).
In connection with his separation, Mr. Wolstein will be entitled to certain severance payments and other benefits as provided for under the Employment Agreement.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: February 17, 2011