Constellation Real Estate Inc. President J. Richard O'Connell has left the real estate development unit of Baltimore Gas & Electric Co., just weeks after BG&E brought in a new executive to head the unit that in
Mr. O'Connell, a 58-year-old lawyer-turned-developer, said he was offered early retirement and decided to take it, effective July 1. He has been president of the company, formerly known as KMS Group Inc., since 1991.
He took over the company, where he had been general counsel since 1984, when its portfolio of office buildings and retail centers was only 58 percent occupied, and pushed that figure above 90 percent.
"I -- and we -- accomplished a lot in the last two years, and I thought it would be good to go out with that accomplishment intact," he said.
Constellation announced June 7 that former EuroDisney development director Randall M. Griffin would become president of Constellation Real Estate Group Inc., a larger BG&E subsidiary that included Mr. O'Connell's operation and two other small units.
The company had said Mr. O'Connell would not be forced out because of the move. But in response to a question yesterday, he agreed there was not enough to do for two executives as experienced as Mr. Griffin and himself.
Constellation spokesman Larry Lichtenauer said Mr. O'Connell was welcome to stay and was not forced out. "He recognized that the company was in good hands and it was a good time to move on," Mr. Lichtenauer said. "But it was his decision."
Mr. O'Connell said he had not made definite plans yet.