April 6, 2010 / 10:48 AM / 9 years ago

UPDATE 1-IStar Financial says CFO resigns

* Reason for resignation not disclosed

* Says initiates search for new CFO

April 6 (Reuters) - U.S. commercial real estate lender iStar Financial Inc SFI.N said its Chief Financial Officer James Burns resigned effective April 16.

The reason for the resignation was not disclosed.

In a regulatory filing, the company said other members of its senior management team will assume the CFO’s responsibilities until it finds a new financial chief.

Burns is responsible for managing all of iStar’s capital-raising initiatives, financial reporting and investor relations, according to the company website.

Shares of the company closed at $4.88 Monday on the New York Stock Exchange. (Reporting by Archana Shankar in Bangalore; Editing by Gopakumar Warrier)

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