Piedmont Office Realty Trust, Inc. Announces CFO Transition
Rhea-AI Summary
Piedmont Office Realty Trust (NYSE:PDM) has announced a CFO transition. Robert E. Bowers, who has served as CFO since 2007, will move to an administrative role effective November 8th. Sherry L. Rexroad will succeed him as the new CFO.
Rexroad brings approximately 30 years of experience in REITs, real estate, finance, and capital markets. She most recently served as CFO of STORE Capital and previously spent a decade at BlackRock Global Real Asset Securities. Rexroad is currently a board member of Apartment Investment and Management Company (NYSE: AIV).
CEO C. Brent Smith expressed gratitude for Bowers' contributions and welcomed Rexroad to the Piedmont team, looking forward to her leadership in the company's next chapter.
Positive
- Appointment of experienced CFO with 30 years in REITs and real estate
- New CFO has previous experience as CFO of a publicly traded REIT
- Smooth transition plan with outgoing CFO moving to administrative role
Negative
- Departure of long-serving CFO who has been with the company since 2007
News Market Reaction
On the day this news was published, PDM declined 1.98%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Sherry L. Rexroad Named Successor
Atlanta, Sept. 30, 2024 (GLOBE NEWSWIRE) -- Piedmont Office Realty Trust, Inc. (NYSE:PDM) today announced that Robert E. Bowers, who has served as the Company’s Chief Financial Officer (CFO) since 2007, will transition to an administrative role effective November 8th and Sherry L. Rexroad will succeed him. Ms. Rexroad brings approximately 30 years of experience in REITs and real estate, finance, and capital markets to the role, having most recently served as CFO of STORE Capital, a publicly traded net-lease REIT. Prior to that, she spent a decade at BlackRock Global Real Asset Securities as Global Head of Business Development as well as Co-Global Chief Investment Officer and Chair of the Investment Committee. She is currently a member of the Board of Directors of Apartment Investment and Management Company (“Aimco”) (NYSE: AIV).
Commenting on the transition, C. Brent Smith, Chief Executive Officer, stated, “Bobby has left an indelible mark on Piedmont, having been involved in virtually all aspects of the Company since, and even prior to, our public listing in 2010. I will miss our daily interaction and strategic collaboration. We thank him for his meaningful contributions and celebrate him as he focuses more of his time outside of Piedmont.” Continuing, Smith added, “We are very pleased to welcome Sherry to the Piedmont team and look forward to her leadership during the next chapter of the Company’s history.”
About Piedmont Office Realty Trust
Piedmont Office Realty Trust, Inc. (NYSE: PDM) is an owner, manager, developer, redeveloper, and operator of high-quality, Class A office properties located primarily in major U.S. Sunbelt markets. Its approximately
Contact: Sarah Heimlich
Company: Piedmont Office Realty Trust
Phone: 770 418 8800
Email: Investor.relations@Piedmontreit.com
FAQ
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