Updated: February 8, 2013 3:46PM
Merchandise Mart Properties Inc. President Mark Falanga is stepping down at the end of February, an MMPI spokesman said Friday.
Falanga said in a letter he sent to friends, he is resigning to pursue other entrepreneurial interests.
Falanga will be succeeded by Myron Maurer, who is a 25-year veteran of MMPI and who most recently served as chief operating officer.
Falanga has been president since 2011, assuming the position from Chris Kennedy, who had worked at the Mart for nearly a quarter of a century.
While Falanga is relinquishing day-to-day responsibilities, he will continue working as a consultant for MMPI and its parent company Vornada through 2014, the MMPI spokesman said.