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Rick Caruso, LA Developer and Mayoral Hopeful, To Step Down as Firm's CEO Next Month

Billionaire Candidate Previously Announced Plan To Step Down if Elected
L.A. mayoral candidate Rick Caruso speaks to supporters on election night in June at The Grove shopping center, perhaps his most recognizable development in Los Angeles. (Wally Skalij/Los Angeles Times via Getty Images)
L.A. mayoral candidate Rick Caruso speaks to supporters on election night in June at The Grove shopping center, perhaps his most recognizable development in Los Angeles. (Wally Skalij/Los Angeles Times via Getty Images)
CoStar News
August 17, 2022 | 9:17 P.M.

Rick Caruso, founder and CEO of one of L.A.'s most recognizable development firms, plans to step down as CEO next month as he continues his run for mayor of Los Angeles.

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