STAG INDUSTRIAL ANNOUNCES PROMOTION OF STEVEN T. KIMBALL TO CHIEF OPERATING OFFICER

Rhea-AI Summary

STAG Industrial (NYSE:STAG) has announced the promotion of Steven T. Kimball to Chief Operating Officer, effective August 1, 2025. Kimball, who joined the company in early 2023 as Executive Vice President of Real Estate Operations, brings extensive industry experience from his previous roles at PGIM Real Estate and Prologis.

According to CEO Bill Crooker, Kimball has been crucial in developing a scalable operating platform, expanding the development business, and improving tenant experience through local property management teams. His background includes serving as Managing Director and Head of Operations for the East Region at Prologis from 1995 to 2021, followed by an Executive Director position at PGIM Real Estate from 2021 to 2023.

Positive

• Appointment of experienced executive with decades of industrial real estate expertise
• Internal promotion demonstrates strong succession planning and talent development
• Strategic focus on operational efficiency and scalable platform development

Negative

• None.

BOSTON, July 31, 2025 /PRNewswire/ -- STAG Industrial, Inc. (the "Company") (NYSE: STAG) today announced the promotion, effective August 1, 2025, of Steven T. Kimball to Chief Operating Officer.

"Steve has done outstanding work since joining us in early 2023 and is instrumental in our initiatives to build a scalable operating platform, grow our development business, and enhance the tenant experience through local third-party property management teams," said Bill Crooker, President and Chief Executive Officer of the Company.  "He has decades of experience with industrial real estate and becomes our COO at a time we are emphasizing operational matters.  I am pleased to have Steve in this role."

Mr. Kimball served as the Company's Executive Vice President—Real Estate Operations from March 2023 until his promotion to Executive Vice President and Chief Operating Officer.  From 2021 to 2023, Mr. Kimball served as an Executive Director at PGIM Real Estate ("PGIM"). Before joining PGIM, Mr. Kimball held various positions at Prologis, Inc. from 1995 to 2021, including serving as Managing Director, Head of Operations, East Region.

Mr. Kimball holds a Bachelor of Science degree from the University of Vermont and a Master of Business Administration from the University of Colorado Boulder.

About STAG Industrial, Inc.

STAG Industrial, Inc. is a real estate investment trust focused on the acquisition, development, ownership, and operation of industrial properties throughout the United States. As of June 30, 2025, the Company's portfolio consists of 600 buildings in 41 states with approximately 118.3 million rentable square feet.

For additional information, please visit the Company's website at www.stagindustrial.com.

Forward-Looking Statements

This press release, together with other statements and information publicly disseminated by the Company, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe the Company's future plans, strategies and expectations, are generally identifiable by use of the words "believe," "will," "expect," "intend," "anticipate," "estimate," "should," "project" or similar expressions. You should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond the Company's control and which could materially affect actual results, performances or achievements. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, the risk factors discussed in the Company's annual report on Form 10-K for the year ended December 31, 2024, as updated by the Company's quarterly reports on Form 10-Q. Accordingly, there is no assurance that the Company's expectations will be realized. Except as otherwise required by the federal securities laws, the Company disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in the Company's expectations with regard thereto or any change in events, conditions, or circumstances on which any such statement is based.

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SOURCE STAG Industrial, Inc.

FAQ

Who is the new COO of STAG Industrial (NYSE:STAG)?

Steven T. Kimball has been promoted to Chief Operating Officer of STAG Industrial, effective August 1, 2025.

What was Steven Kimball's previous role at STAG Industrial?

Steven Kimball served as STAG Industrial's Executive Vice President of Real Estate Operations from March 2023 until his promotion to COO.

What is Steven Kimball's professional background before joining STAG?

Kimball worked at Prologis from 1995 to 2021 as Managing Director and Head of Operations for the East Region, followed by serving as Executive Director at PGIM Real Estate from 2021 to 2023.

What are the key initiatives Steven Kimball will oversee as STAG Industrial's COO?

As COO, Kimball will oversee building a scalable operating platform, growing the development business, and enhancing tenant experience through local third-party property management teams.

When does Steven Kimball's appointment as STAG Industrial COO become effective?

Steven Kimball's appointment as Chief Operating Officer becomes effective on August 1, 2025.