ExecutiveBrief (November 5, 2010)

NAREIT Names 2011 Leadership Team

Updates and Streamlines Governance to Reflect Best Practices on its 50th Anniversary

In conjunction with its 50th anniversary, NAREIT recently completed the process of updating and streamlining its governance to reflect current best practices. As part of this process, NAREIT reincorporated in the District of Columbia through a statutory merger of its predecessor, a Massachusetts nonprofit corporation, into a newly formed District of Columbia nonprofit corporation. In doing so, NAREIT also updated and streamlined its Bylaws to reflect current best practices.

The statutory merger was first approved by NAREIT's Executive Committee on June 9, 2010; it was then approved by its Board of Governors on September 15, 2010; it was finally approved by its corporate members on October 21, 2010; and, it took effect on October 26, 2010.

On October 28, 2010, the initial Executive Board of NAREIT (operating as a District of Columbia nonprofit corporation) elected NAREIT's 2011 Officers and other members of the Executive Board, effective October 28, 2010, consistent with the final slate of recommendations that the NAREIT Nominating Committee made on October 5, 2010, and in accordance with the proposed Bylaws for the new corporation which had been approved for future use by the Board and corporate members of NAREIT prior to the merger.

The Nominating Committee, which had been previously elected by the Board of Governors of NAREIT, consisted of the following individuals: Debra Cafaro (Chair), Ventas; Mike Fascitelli, Vornado Realty Trust; David Neithercut, Equity Residential; Walt Rakowich, ProLogis; and, Hap Stein, Regency Centers.

On November 1, 2010, the 2011 NAREIT Executive Board convened to formally adopt the updated and streamlined Bylaws (which vest governing authority in the fifteen person Executive Board, among other things); and to appoint the Members of the 2011 Board of Governors, effective November 1, 2010, consistent with the final slate of recommendations made by the NAREIT Nominating Committee on October 5, 2010.

Elected as 2011 Officers and Members of the 2011 Executive Board:

Elected as Members the 2011 Executive Board:

Elected as Members of the 2011 Executive Board as Past Chairs:

Appointed as Members of the 2011 Board of Governors:

Elected to serve on the 2011 Audit and Investment Committee: