Zell apologizes for using lewd comment to refer to women
Property magnate used vulgarity at a conference last week
Property magnate Sam Zell has apologized to the organizer of a real estate association conference for using a lewd term to refer to women, according to a newsletter emailed to members.
Mr. Zell “reached out” to make the apology after the conference in New York organized by Nareit, according to a statement in the association’s newsletter attributed to Steve Wechsler, its chief executive, and Thomas Baltimore Jr., its chairman.
Zell also expressed “his regret to the Nareit community,” said the statement in the newsletter emailed to members Monday. “We apologize to our attendees and others who have heard or read about Mr. Zell’s language in various media reports.”
A spokesperson for Mr. Zell didn’t return a request for comment Monday evening. A spokesperson from Nareit, formerly known as National Association of Real Estate Investment Trusts, said Monday evening the apology was made by phone.
The founder and chairman of Equity Group Investments, Mr. Zell made the remark at a panel interview with Mr. Wechsler during a conference luncheon. He was responding to a question about workplace diversity and the #MeToo movement.
Mr. Zell, who is known for making irreverent remarks over the years, said he was a believer in meritocracy and that he has never promoted nor demoted a woman because she is a woman.
“I don’t think there’s ever been a, ‘We gotta get more pussy on the block’ ” mentality at his company, he said then.
“Mr. Zell’s language was completely unacceptable and is not welcome at Nareit-sponsored events (or, in our view, anywhere else),” the statement by Messrs. Wechsler and Baltimore said. “Moreover, his language does not represent Nareit’s values — nor does it represent the values of the women and men who work in the industry that we represent.”
Some people in the audience laughed at his remarks. But some women walked out, according to attendees.
“Nareit strives to ensure speakers at our events present relevant and useful insights in a fully appropriate manner,” the newsletter said. “Our members rightfully expect this from us — and we will make every effort in the future to meet this expectation.”