"Andrew is a highly respected leader with a rare combination of development expertise and institutional investment experience, Barnett said in a statement. I'm confident his strategic perspective will be invaluable as we continue to grow and enter Extell's next chapter."
"Chung will work closely with Barnett to oversee Extell's strategic direction, development pipeline, capital relationships and long-term growth plans across its residential, commercial and mixed-use investments."
"Extell had partnered with the Carlyle Group to develop Riverside Drive in the late 2000s when Chung was working for the private equity giant."
"The last time Extell had a CEO that wasn't Barnett was when the company hired Westbrook Partners' Sush Torgalkar in 2019, who left after a year and a half."
Andrew Chung has been appointed as president and co-CEO of Extell Development, aiming to expand into commercial projects. Gary Barnett praised Chung's development expertise and investment experience. Chung previously led Innovo Property Group and will continue its operations. His role includes overseeing Extell's strategic direction and development pipeline. This move follows a history of high-level departures at Extell, with Barnett seeking a reliable partner for the company's growth and strategic initiatives.
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