Rexford Industrial Announces New CFO Hire & Promotion of Laura Clark to COO
Rhea-AI Summary
Rexford Industrial Realty, Inc. (NYSE: REXR) has announced key leadership changes effective November 18, 2024. Michael Fitzmaurice has been appointed as the new Chief Financial Officer (CFO), while Laura Clark, the current CFO, has been promoted to the role of Chief Operating Officer (COO).
Mr. Fitzmaurice brings 25 years of experience in the public REIT sector, most recently serving as Executive Vice President and CFO of RPT Realty. He played a important role in the successful merger with Kimco Realty in January 2024. Laura Clark's promotion to COO comes after four years of substantial contributions as CFO.
The Co-CEOs, Michael Frankel and Howard Schwimmer, expressed enthusiasm about these changes, highlighting the potential for significant value creation and growth opportunities for Rexford Industrial.
Positive
- Appointment of experienced CFO Michael Fitzmaurice with 25 years in public REIT sector
- Promotion of Laura Clark to COO, leveraging her successful tenure as CFO
- Strategic leadership changes aimed at capitalizing on growth opportunities
Negative
- None.
News Market Reaction – REXR
In the trading session that priced this news, REXR declined 0.09%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
"We are very pleased to welcome Michael Fitzmaurice to the Rexford Industrial team. Michael is a strategic, results-driven and team-focused leader who we are excited to partner with as we capitalize upon Rexford's significant forward growth opportunity," stated Michael Frankel and Howard Schwimmer, Co-Chief Executive Officers of the Company. "We are also pleased to elevate Laura Clark to COO and are grateful for Laura's substantial contributions as CFO over the last four years. Laura's promotion to COO will enable her to drive substantial value creation through the operational and growth segments of our business."
Mr. Fitzmaurice brings 25 years of experience in the public REIT sector to Rexford Industrial. He most recently served as Executive Vice President, CFO of RPT Realty, where he joined in 2018, and was instrumental in the successful merger with Kimco Realty in January 2024. Prior to joining RPT, Mr. Fitzmaurice served as Vice President and then Senior Vice President of Finance for Retail Properties of America, Inc. from 2012 to 2018. Earlier in his career, Mr. Fitzmaurice held positions of growing responsibility at General Growth Properties and Equity Office Properties. Mr. Fitzmaurice received his B.S. in finance from the University of
Russell Reynolds Associates (RRA), a leading executive search and leadership advisory firm, partnered with Rexford Industrial on this important mandate. Deb Barbanel and Nick Roberts led the effort on behalf of RRA.
About Rexford Industrial
Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. While forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, they are not guarantees of future performance. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the reports and other filings by the Company with the
Contact:
Investorrelations@rexfordindustrial.com
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SOURCE Rexford Industrial Realty, Inc.