First Industrial Realty Trust Inc. said Thursday that Michael W. Brennan -- who has held the top job at the real estate investment trust for a decade -- has resigned as president and chief executive; he left the REIT's board as well.
The Chicago company didn't say specifically why its longtime CEO stepped down, but the company's stock has been in a swoon and First Industrial said it signaled that directors wanted a new management team.
In a statement, Chairman Jay Shidler said only that the decision to seek a new executive "was based on the board's belief that it is the right time to install new leadership to move the company forward in improving its performance and achieving its full potential." ---------------- mukesh420 <a href="http://fsbo.fastrealestate.net">Homes for sale</a>-Homes for sale
First Industrial Realty Trust Inc. said Thursday that Michael W. Brennan -- who has held the top job at the real estate investment trust for a decade -- has resigned as president and chief executive; he left the REIT's board as well.
The Chicago company didn't say specifically why its longtime CEO stepped down, but the company's stock has been in a swoon and First Industrial said it signaled that directors wanted a new management team.
In a statement, Chairman Jay Shidler said only that the decision to seek a new executive "was based on the board's belief that it is the right time to install new leadership to move the company forward in improving its performance and achieving its full potential."
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<a href="http://fsbo.fastrealestate.net">Homes for sale</a>-Homes for sale