Nominating & Governance Committee
Raymond L. Bank
|Nominating & Governance Committee|
Mr. Bank, age 60, has served on our Board since 1997. Mr. Bank was a founder and President of
Merchant Partners, a venture capital firm focusing on retail, direct marketing, and consumer service
companies, from 1994 through 2004. Since 1991, he has served as President of Raymond L. Bank &
Associates, Inc., a firm investing in and advising marketing-driven companies in the retail, direct
marketing and services sectors. Mr. Bank has an A.B. from Vassar College, a J.D. from University of
Baltimore Law School and an M.B.A. from the University of Pennsylvania’s Wharton School.
Mr. Bank is an experienced venture investor who has significant experience with consumer and
business-to-business marketing driven companies. Mr. Bank has significant knowledge of the capital
markets. He has served as a director of both public and private companies and as a trustee of a number
of charitable institutions. He has not held any other public company directorships during the past five
|Nominating & Governance Committee|
Mr. Blair, age 55, is the Executive Chairman of Invitation Homes, a Blackstone portfolio company which is the largest owner of single family homes for rent. Mr. Blair also serves on the board of Pulte Homes (NYSE: PHM), one of the largest home builders in the U.S., as well as on the board of Regency Centers (NYSE: REG), one of the largest owners of shopping centers in the U.S. Mr. Blair is a part-time faculty member at Boston College where he co-teaches a course on real estate and he also serves on the advisory board of Home Start, a non-profit focused on ending homelessness in the greater Boston area.
Mr. Blair is the former Chairman and CEO of AvalonBay Communities (NYSE: AVB), a Real Estate Investment Trust (REIT) focused on the development, acquisition and management of multifamily apartments throughout the U.S. He served as CEO from 2001 thru 2012 and Chairman from 2012 thru 2013. Prior to his role as CEO and Chairman he had previously served as President, Chief Operating Officer, Chief Investment Officer and Senior Vice President of Development, Acquisitions and Construction. He has overseen the development, construction, acquisition and management of over $15 billion of multifamily assets. Prior to the formation of Avalon Properties in 1993, Mr. Blair was a Partner with Trammell Crow Residential. Mr. Blair also previously served as a Senior Advisor to McKinsey and Co.
Mr. Blair is the past chairman of the National Association of Real Estate Investment Trusts (“NAREIT”) where he also served on the Executive Committee and on the Board of Governors. He is a past member of the Urban Land Institute (ULI) where he served as a Trustee and was past chairman of the Multi-Family Council. Mr. Blair is a past member of the Young Presidents Organization (YPO) and a current member of the World Presidents Organization (WPO).
Mr. Blair received an MBA from Harvard Business School. He graduated, magna cum laude, with an undergraduate degree in Civil Engineering from the University of New Hampshire.
C. Ronald Blankenship
Mr. Blankenship, age 64, has served on our Board since 2001, and has not held any other public
company directorships during the past five years. Mr. Blankenship has served as the President and Chief
Executive Officer of Verde Realty from January 2009 and as its Chairman and Chief Executive Officer
from January 2012 to December 2012 when Verde Realty merged with Brookfield Asset Management.
Upon completion of the merger, Mr. Blankenship has continued as the Chief Executive Officer of Verde
Realty. Prior to 2009, he served as Co-Chairman of Verde Group beginning in 2003. From 1998 until
2003, he was Vice Chairman of Security Capital Group Incorporated which was sold to GE Capital
Corporation in 2002. He was Chief Operating Officer of Security Capital from 1998 to 2002 and
Managing Director from 1991 until 1998. Prior to 1997, he was the Chief Executive Officer of Archstone
Communities Trust. Mr. Blankenship was formerly a trustee of Prologis Trust and was formerly a director
of Archstone Communities Trust, BelmontCorp, InterPark Holdings Incorporated, Storage USA, Inc.,
CarrAmerica Realty Corporation and Macquarie Capital Partners, LLC. He also served as Interim
Chairman, Chief Executive Officer and director of Homestead Village Incorporated from 1999 until 2001.
Since 2012, Mr. Blankenship has served as a director of Pacolet-Miliken Enterprises, Inc., a private
investment company. Mr. Blankenship is a certified public accountant and a graduate of the University of
Mr. Blankenship has extensive experience in the REIT industry including cross-border
experience. He is an expert in real estate development, acquisitions, financing and operations. He has
extensive experience in public company financing, strategic planning, capital allocation, people
management and executive compensation. While he was with Security Capital Group, Security Capital
Group had controlling interests in 18 public and private real estate operating companies, eight of which
were listed on the NYSE. Prior to joining Security Capital, Mr. Blankenship was a regional partner at
Trammell Crow Residential and was on the management board for Trammell Crow Residential Services.
Before Trammell Crow, Mr. Blankenship was the chief financial officer and president of office
development for Mischer Corporation, a Houston-based real estate development company.
Alvin R. Carpenter
|Nominating & Governance Committee|
Mr. Carpenter, age 72, has served on our Board since 1993. Mr. Carpenter retired from CSX
Corporation as Vice Chairman, a position he held from 1999 to 2001. From 1962 until 2001, he held a
variety of positions with CSX, including President and Chief Executive Officer of CSX Transportation, Inc.
Mr. Carpenter has significant experience with managing a Fortune 500 company. In his roles
with CSX, he gained significant experience with human resource issues as well as business integration
issues. As evidenced by the numerous boards he has served on such as Blue Cross & Blue Shield of
Florida, Nations Bank, Barnett Bank, Inc., Florida Rock Industries, Inc. and others, he has significant
knowledge of key industries impacting the economy, strategic management and accounting as well as
insights as to how public companies should be managed. Mr. Carpenter has served on our Board since
we became a public company and as a result has significant understanding of our Company and industry.
J. Dix Druce Jr.
Mr. Druce, age 66, has served on our Board since 1993. Mr. Druce has been President and
Chairman of the Board of National P.E.T. Scan, LLC since 2000. From 1988 until 2000, he served as
President and Chairman of the Board of Life Service Corp., Inc., a life insurance management company,
and President and director of American Merchants Life Insurance Company and its parent, AML
Acquisition Company, from 1992 until the companies’ sale in 2000. He was President and director
(Chairman from 1989 to 1991) of National Farmers Union Life Insurance Company from 1987 to 1991,
and President and director of Loyalty Life Insurance Company and NFU Acquisition Company from 1987
to 1991. He served as a director of Florida Rock Industries, Inc. until its merger in 2007. He has not held
any other public company directorships during the past five years. Mr. Druce is a graduate of Dartmouth
Mr. Druce has significant experience in the insurance industry. He has acquired and sold
numerous companies in his career and has significant experience with mergers and acquisitions. In
connection with his role as CEO of numerous insurers and other companies, he has strong skills in
accounting and has significant knowledge of business operations. Mr. Druce has served on our Board
since we became a public company and as a result has significant understanding of our Company and
Mary Lou Fiala
Ms. Fiala, age 62, has served on our Board since 1997. Ms. Fiala is our former Chief Operating
Officer, having served from January 1999 to December 2009. She also served as our President from
January 1999 to February 2009 and then as Vice Chairman until December 2009. Before joining us, she
was Managing Director - Security Capital U.S. Realty Strategic Group from 1997 to January 1999.
Ms. Fiala was Senior Vice President and Director of Stores, New England - Macy’s East/Federated
Department Stores from 1994 to 1997. From 1976 to 1994, Ms. Fiala held various merchandising and
store opreations positions with Macy's/Federated Department Stores. Ms. Faila currently serves
as non-executive chairman, and CNL Macquarie Global Growth Trust. Ms. Fiala formerly served as the Co-Chairman
of LOFT Unlimited, a personal financial and business consulting firm, and as a director of Flat
Out Crazy, Inc., a privately held restaurant chain. Ms. Fiala has not held any other public company
directorships during the past five years. Ms. Fiala ia a graduate of Miami University.
Ms. Fiala has extensive knowledge of our Company from her service both as an officer and as a
director. She has significant knowledge of the retail industry which provides us with great insight into our
tenants. She is a former chairman, and current member, of the board of trustees of the International
Council of Shopping Centers. She also has strong skills in operations management, organizational
management, marketing and human resources.
Douglas S. Luke
Mr. Luke, age 72, has served on our Board since 1993. Mr. Luke is President and Chief
Executive Officer of HL Capital, Inc., a personal management and investment company. From 1991 to
1998, Mr. Luke was President and Chief Executive Officer of WLD Enterprises, Inc., a diversified private
investment and management company with interests in securities, real estate and operating businesses.
From 1987 to 1990, he was Managing Director of Rothschild Inc./Rothschild Ventures. He is a director of
MeadWestvaco Corporation, a diversified packaging and chemicals manufacturing company, and has not
held any other public company directorships during the past five years. Mr. Luke is a graduate of the
University of Virginia and has an M.B.A. from the University of Virginia Darden School.
Mr. Luke has extensive experience in real estate and has significant knowledge of the capital
markets and of key industries impacting the economy. Mr. Luke has served on our Board since we
became a public company and as a result has significant understanding of our Company and industry.
David P. O’Connor
Mr. O’Connor, age 49, has served on our Board since August 2011. He was the co-founder and
Senior Managing Partner of High Rise Capital Management, L.P., a real estate securities hedge fund
manager which managed several funds from 2001 to 2011. Mr. O’Connor is currently a private investor.
From 1994 to 2000, he was Principal, Co-Portfolio Manager and Investment Committee Member of
European Investors, Inc., a large dedicated REIT investor. Mr. O’Connor is a graduate of the Carroll
School of Management at Boston College and has an M.S. degree in Real Estate from New York
Mr. O’Connor is an experienced and successful real estate securities investor as well as hedge
fund manager. He has extensive knowledge and experience in real estate securities and capital markets.
He serves on the Board of Trustees of Boston College, the investment committees of endowments for
Boston College and Columbia University (Teacher’s College) and serves on the executive committee of
the Zell/Lurie Real Estate Center at the University of Pennsylvania’s Wharton School. He is a frequent
speaker at REIT investment forums and conferences, and has served as an Adjunct Instructor of Real
Estate at New York University. Mr. O’Connor is a director of Songbird Estates, plc. He has not held any
other public company directorships during the past five years.
John C. Schweitzer
|Nominating & Governance Committee|
Mr. Schweitzer, age 69, has served on our Board since 1999. Mr. Schweitzer is President of
Westgate Corporation, which holds investments in real estate and venture capital operations. Mr.
Schweitzer serves as our lead director. He previously served as a member of Pacific Retail Trust’s board
of trustees before its merger into Regency in 1999. Mr. Schweitzer also served as a director or officer of
a number of public companies and financial institutions, including Archstone-Smith Trust, J.P. Morgan
Chase Bank of Texas-Austin, Franklin Federal Bancorp, Elgin Clock Company, El Paso Electric
Company, MBank El Paso, the Circle K Corporation, Homestead Village Incorporated and Enerserv
Products. Other than Archstone-Smith Trust, he has not held any other public company directorships
during the past five years. Mr. Schweitzer is a graduate of the University of Missouri and has an M.B.A.
from the University of Missouri.
Mr. Schweitzer has served on the boards of numerous public companies, many of which are real
estate companies. He has a strong background in business and finance with extensive experience in
public company strategies, executive compensation and human resource issues.
Martin E. Stein Jr.
Mr. Stein, age 61, is our Chairman of the Board and Chief Executive Officer. He has served on
our Board since 1993. He served as our President from our initial public offering in 1993 until 1998. Mr.
Stein also served as President of our predecessor real estate division beginning in 1981, and Vice
President from 1976 to 1981. He is a director and member of the compensation and corporate
governance committees of Patriot Transportation Holding, Inc., a publicly held transportation and real
estate company, and Stein Mart, Inc., a publicly held upscale discount retailer, and has not held any other
public company directorships during the past five years. Mr. Stein is a graduate of Washington and Lee
University and has an M.B.A. from Dartmouth College’s Tuck School of Business.
Mr. Stein has led our Company since prior to it being a public company. In addition to his
leadership skills, he has extensive experience in the real estate industry. He is a past Chairman of the
National Association of Real Estate Investment Trusts (“NAREIT”). Mr. Stein is a member of the Urban
Land Institute, the International Council of Shopping Centers and the Real Estate Roundtable. Mr. Stein
is a former trustee of Washington and Lee University and the Urban Land Institute.
Thomas G. Wattles
Mr. Wattles, age 62, has served on our Board since 2001. Since 2003, Mr. Wattles has been
Chairman of DCT Industrial Trust, a publicly held industrial property REIT. Mr. Wattles is a director of
Columbia Property Trust, a publicly held office REIT and has not held any other public company
directorships during the past five years. Mr. Wattles was a principal of both Black Creek Group and
Dividend Capital Group LLC, each a real estate investment management firm, from 2003 to 2008. He
served as Chief Investment Officer of Security Capital Group from 1997 to 2002. Mr. Wattles was
Managing Director, then Co-Chairman and Chief Investment Officer of ProLogis from 1992 to 1997. Mr.
Wattles has previously served as a director of Prologis, Interpark Holdings Incorporated and Security
Capital European Realty. Mr. Wattles is a graduate of Stanford University and has an M.B.A. from the
Stanford Graduate School of Business.
Mr. Wattles has extensive experience in the REIT industry, including cross-border experience. At
Security Capital Group, he oversaw capital deployment and investments in multiple public and private
operating platforms with focus on retail, industrial, parking, manufactured housing and European office
sectors. While Mr. Wattles was with Security Capital Group, Security Capital Group had controlling
interests in 18 public and private real estate operating companies, eight of which were listed on the
NYSE. He is an expert in real estate development, acquisitions, finance and operations. He has
significant knowledge of capital allocation, strategic planning and accounting.
= CHAIRPERSON = CHAIRMAN OF THE BOARD = FINANCIAL EXPERT