#United States #Los Angeles #Board of Directors #Rexford Industrial #Richard Ziman

Rexford Industrial Announces Retirement of Chairman Richard Ziman

Rexford Industrial Realty, Inc., a prominent entity in the real estate investment trust sector, has made a significant announcement that its Chairman, Richard Ziman, will retire after the upcoming Annual Meeting of Stockholders slated for June 3, 2025. This decision marks a notable transition for the company which has been under Ziman's leadership during a period of considerable growth and development.

In a statement reflecting on his tenure, Ziman expressed his privilege in being part of Rexford's impressive rise, stating, "It's been a privilege to be a part of the tremendous growth of Rexford Industrial, and I have the utmost confidence in the team's continued success." Such sentiments underline the collaborative spirit and hard work that have characterized his time at the helm.

Michael Frankel and Howard Schwimmer, Co-Chief Executive Officers of Rexford Industrial, highlighted their deep appreciation for Ziman’s contributions during his chairmanship. They noted that Rexford is poised for a future filled with opportunities and growth, emphasizing their commitment to creating long-term value for shareholders. The Q1 2025 earnings results, anticipated prior to the Annual Meeting, will set the stage for future initiatives and board decisions.

In light of Ziman’s retirement, the Board of Directors has approved the ascension of Tyler Rose, the current lead independent director, to serve as the new Chairman of the Board, pending the election outcome at the Annual Meeting. This structured leadership transition showcases the company’s commitment to continuity and forward-thinking governance.

As a reminder, Rexford Industrial focuses on investing in and managing industrial properties mainly located in Southern California. This area boasts the fourth largest industrial market globally and is consistently recognized for having the highest demand alongside the lowest supply in the nation. As of December 31, 2024, Rexford Industrial’s portfolio consisted of 425 properties totaling around 50.8 million rentable square feet, serving a diverse and stable tenant base. This diverse portfolio exemplifies the company’s strategic approaches to real estate investment, aiming for both internal and external growth opportunities.

Ziman's departure will undoubtedly bring about significant changes, even as the company remains focused on capitalizing on its embedded Net Operating Income (NOI) growth opportunities. The collective aim is to drive enhanced value for shareholders and ensure that Rexford Industrial navigates the challenges ahead in a robust manner.

For more information on the company’s future initiatives and announcements, stakeholders and interested parties are encouraged to visit the official Rexford Industrial website.

As Rexford Industrial looks ahead, the focus will remain on leveraging its unique market position in Southern California through innovative strategies and operational excellence, ensuring that future leadership continues the legacy established under Richard Ziman’s chairmanship while striving for new heights in the industrial real estate sector.