Each month, Nareit highlights recent executive career moves, board changes, and other notable individual achievements within the REIT and publicly listed real estate market.
Alexander & Baldwin, Inc . (NYSE: ALEX) said Lance Parker, currently A&B's president and COO, has been appointed the company's new president and CEO effective July 1. Parker will succeed CEO Christopher Benjamin who will retire on June 30 but serve as a consultant through the end of 2023 to ensure a smooth transition and complete various aspects of A&B's simplification strategy.
Farmland Partners Inc . (NYSE: FPI) said Luca Fabbri has been promoted to the role of CEO and appointed to the board as part of the senior executive succession plan that was approved and announced in November 2022. Paul Pittman, who previously served as CEO, will remain as executive chairman. A co-founder of Farmland Partners, Fabbri was named president in October 2021 after serving as the company’s CFO since its inception.
Invitation Homes Inc . (NYSE: INVH) said Ernie Freedman will step down as EVP, CFO and treasurer, as of June 1, and concurrently announced the planned succession appointment of Jonathan Olsen, current EVP, corporate strategy and finance, as the company’s new EVP, CFO and treasurer. Freedman will provide advisory services through March 31, 2024.
Justin Smart has been named president of Kilroy Realty Corp. (NYSE: KRC), effective March 1, replacing Tyler Rose, who is stepping down. Since January 2022, Smart has served as Kilroy’s president of development and construction services.
SBA Communications Corp . (Nasdaq: SBAC) said that Jeff Stoops will retire from his positions as president and CEO on Dec. 31. SBA’s board has appointed Brendan Cavanagh, SBA’s EVP and CFO, to succeed Stoops as president and CEO, at which time Cavanagh will also be appointed to the board.
Cavanagh joined SBA in February 1998 after spending several years as a CPA in the assurance practice of Arthur Andersen. Stoops will remain on the board, and upon his retirement will assume the position of non-executive chairman. Steven Bernstein, SBA’s founder and current chairman, will continue to serve on the board, and Jack Langer will continue in his role as lead independent director. SBA intends to appoint its next CFO later this year.
UMH Properties, Inc . (NYSE: UMH) announced the promotion of Stephanie McQuay to director of diversity, equity, and inclusion. McQuay started at UMH in 2014 as an administrative assistant.
Veris Residential, Inc . (NYSE: VRE) appointed two new independent directors, Ronald Dickerman, founder and president of Madison International Realty, and Stephanie Williams, president of Bozzuto Management Co. and a partner of The Bozzuto Group, to the Veris board, effective May 4. Concurrently, Alan Batkin will retire from the board.