Lexington Realty Trust Announces Appointment of Joe Bonventre as Chief Operating Officer and Brendan Mullinix as Chief Investment Officer
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Rhea-AI Summary
Lexington Realty Trust (NYSE:LXP) has appointed Joe Bonventre as Chief Operating Officer, while he continues his role as Executive Vice President, General Counsel, and Secretary. Brendan Mullinix has been named Chief Investment Officer, in addition to his position as Executive Vice President. CEO T. Wilson Eglin emphasized that these appointments signify the advancement of Lexington's leadership team, crucial for its transition to an industrial-focused REIT. The management change aims to strengthen operations and investment strategies in the single-tenant industrial real estate sector.
Positive
- Appointment of Joe Bonventre as COO and Brendan Mullinix as CIO signals strong leadership.
- Management change may enhance operational efficiency and investment strategies in the industrial sector.
Negative
- Concerns about continuity in leadership experience with new roles might arise.
Details
News Market Reaction – LXP
The recorded move for LXP in the trading session of this news was +2.38%.
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NEW YORK, May 26, 2020 (GLOBE NEWSWIRE) -- Lexington Realty Trust (NYSE:LXP) (“Lexington”), a real estate investment trust (REIT) focused on single-tenant industrial real estate investments, today announced that Joe Bonventre has been appointed as Lexington’s Chief Operating Officer, in addition to continuing his roles as Executive Vice President, General Counsel and Secretary, and Brendan Mullinix has been appointed as Lexington’s Chief Investment Officer, in addition to continuing his role as Executive Vice President.
T. Wilson Eglin, Chairman, Chief Executive Officer and President of Lexington Realty Trust, commented, “Today’s appointments reflect the progression of the next generation of leadership at Lexington. Brendan and Joe, together with Beth Boulerice, Lara Johnson and James Dudley, have been instrumental in the transition to an industrial focused REIT over the last several years. I am confident that Lexington has an exceptionally strong team to serve its tenants and shareholders in the years to come. On behalf of the Board, I congratulate Brendan and Joe and the rest of our team for their accomplishments and wish them continued success at Lexington.”
ABOUT LEXINGTON REALTY TRUST
Lexington Realty Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) focused on single-tenant industrial real estate investments across the United States. Lexington seeks to expand its industrial portfolio through build-to-suit transactions, sale-leaseback transactions, development projects and other transactions, including acquisitions. For more information or to follow Lexington on social media, visit www.lxp.com.
Contact:
Investor or Media Inquiries for Lexington Realty Trust:
Heather Gentry, Senior Vice President of Investor Relations
Lexington Realty Trust
Phone: (212) 692-7200 E-mail: hgentry@lxp.com
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