Rexford Industrial Realty Plans Leadership Transition

Rexford Industrial Realty, Inc. (NYSE: REXR) has announced plans for a leadership transition, as revealed in the press release dated June 17, 2024. The company is initiating a process to recruit a new Chief Financial Officer (CFO), with the intention of elevating Laura Clark, the current CFO, to the newly-established role of Chief Operating Officer (COO) upon the successful hire of a new CFO.

Rexford Industrial has engaged Russell Reynolds Associates to spearhead the executive search effort for the new CFO. The company's co-Chief Executive Officers, Michael Frankel and Howard Schwimmer, expressed their appreciation for Laura's work and contributions as the CFO, and highlighted the significance of her transition to the COO position as a natural expansion of her role and company-wide impact.

Upon transitioning to the role of COO, Laura Clark is set to oversee various facets of the company, including asset management, investments, development and construction, leasing, property management, and marketing, among others. The move is expected to optimize the alignment and execution of value-creation initiatives across the organization to maximize long-term growth and shareholder value.

Rexford Industrial, a real estate investment trust focused on investing in and operating industrial properties throughout infill southern California, boasts a high-quality, irreplaceable portfolio comprising 422 properties with approximately 49.5 million rentable square feet. The company's strategy enables both internal and external growth opportunities through its proprietary value creation and asset management capabilities. As a member of the S&P MidCap 400 index, Rexford Industrial is structured as a real estate investment trust and listed on the New York Stock Exchange under the ticker "REXR." Following these announcements, the company's shares moved 0.6%, and are now trading at a price of $45.08. Check out the company's full 8-K submission here.

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