NNN REIT, Inc. Announces Retirement of Board Chair and Replacement
NNN REIT (NYSE: NNN) announced that Chair Steven D. Cosler retired from the Board effective February 18, 2026, and independent director Edward J. Fritsch has been appointed Chair effective upon Cosler's retirement.
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Rhea-AI Summary
NNN REIT (NYSE: NNN) announced that Chair Steven D. Cosler retired from the Board effective February 18, 2026, and independent director Edward J. Fritsch has been appointed Chair effective upon Cosler's retirement. Cosler served on the Board since August 2016 and as Chair since May 2021.
Mr. Fritsch has served on NNN's Board since February 2012, is a former CEO of Highwoods Properties (retired 2019), served as Nareit national chair for 2015-2016, and received Nareit's Industry Leadership Award in 2023.
Positive
- Seamless succession: Board appointed an internal director as Chair effective immediately
- New Chair Edward J. Fritsch brings long REIT leadership experience and prior CEO role
- Fritsch has deep NNN tenure (Board service since February 2012) supporting continuity
Negative
- Departure of long-tenured Chair Steven D. Cosler reduces board continuity from his 2016 start
Details
News Market Reaction – NNN
On Feb 20, the first trading day after this news, NNN closed 0.86% above the previous close.
Data tracked by StockTitan Argus for the Feb 20 session.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Mr. Cosler has served on the Board since August 2016 and as Chair since May 2021. Steve Horn, Chief Executive Officer, commented, "We are grateful for Steve's many contributions to the Company since joining in 2016, and especially for his steady leadership and guidance as Chair during a period of significant market disruption. His commitment and perspective have been invaluable. I look forward to partnering with Ed as we guide NNN forward and continue executing on our strategy to drive long-term shareholder value."
"It has been a privilege to serve as Chair of NNN and to work alongside such a talented Board and management team," stated Mr. Cosler. "I am confident that Ed and Steve will provide strong, cohesive leadership as the Company continues to deliver on its strategic objectives."
Mr. Fritsch has served on NNN's Board since February 2012 and brings extensive real estate investment trust ("REIT") experience as former President and Chief Executive Officer at Highwoods Properties, Inc., a publicly traded REIT (retired, 2019). "On behalf of the entire Board, we thank Steve for his years of dedicated service and leadership," said Mr. Fritsch. Mr. Fritsch is a former member of the Nareit Board of Governors, and its 2015-2016 national chair, and was the recipient of Nareit's Industry Leadership Award in 2023.
About NNN REIT, Inc.
NNN invests in high-quality properties subject generally to long-term, net leases with minimal ongoing capital expenditures. As of December 31, 2025, the Company owned 3,692 properties in all 50 states, the
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SOURCE NNN REIT, Inc.
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