AvalonBay Communities Announces New Executive Vice President and Succession Plan for Two Finance Leaders
29 Janeiro 2024 - 6:15PM
Business Wire
AvalonBay Communities, Inc. (the “Company”) (NYSE: AVB)
announced today the naming of Alaine Walsh as Executive Vice
President – Human Capital and Administration and the retirement and
associated succession plans for two long-tenured finance
officers.
The Company announced that Alaine Walsh, currently the Company’s
Senior Vice President – Operations and Investment Services, has
been promoted to Executive Vice President – Human Capital and
Administration. Ms. Walsh joined AvalonBay in 1998 in the finance
group and has served in a variety of financial, administrative, and
operational leadership positions. Ms. Walsh will continue to report
directly to Benjamin Schall, President and CEO, and will also join
the Company’s Management Operating Committee.
Retiring from the Company as of January 1, 2025 will be Joanne
Lockridge, Executive Vice President – Capital Markets, and Keri
Shea, Senior Vice President – Finance and Treasurer and the
Company’s principal accounting officer (PAO). Ms. Lockridge has
been with the Company and its predecessors since 1989, serving in a
variety of finance roles and since 2021 in her current executive
role. Ms. Shea has been with the Company since 2002, serving as PAO
since 2009.
As part of the planned transition and in advance of Ms.
Lockridge’s retirement next year, Michael Simel, Vice President –
Capital Markets, has been promoted to Senior Vice President –
Capital Markets. Upon Ms. Lockridge’s retirement, Mr. Simel will
report directly to Kevin O’Shea, EVP and Chief Financial Officer.
Mr. Simel joined the Company in 2010.
Upon Ms. Shea’s retirement next year, Sean Willson, Senior Vice
President – Corporate Controller, will become the designated
principal accounting officer and will also report directly to Mr.
O’Shea. Mr. Willson joined the Company in 2006 as Corporate
Controller and was promoted to Vice President in 2013 and to Senior
Vice President in 2023.
“Joanne and Keri have played important roles in the Company’s
growth and in establishing our reputation as a leading owner,
operator and developer of apartment communities. We will certainly
miss them when they retire at the start of 2025,” said Benjamin
Schall, AvalonBay’s Chief Executive Officer. “We are excited for
Alaine to join our Executive team as she expands her
responsibilities to wider human capital and administrative
leadership. And as part of our consistent focus on succession
planning, we are well prepared to have Mike and Sean step into
their leadership roles in capital markets and corporate accounting,
respectively.”
About AvalonBay Communities, Inc.
As of September 30, 2023, the Company owned or held a direct or
indirect ownership interest in 296 apartment communities containing
89,240 apartment homes in 12 states and the District of Columbia,
of which 17 communities were under development and one community
was under redevelopment. The Company is an equity REIT in the
business of developing, redeveloping, acquiring and managing
apartment communities in leading metropolitan areas in New England,
the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific
Northwest, and Northern and Southern California, as well as in the
Company's expansion regions of Raleigh-Durham and Charlotte, North
Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver,
Colorado. More information may be found on the Company’s website at
https://www.avalonbay.com.
Copyright © 2024 AvalonBay Communities, Inc.
All Rights Reserved
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version on businesswire.com: https://www.businesswire.com/news/home/20240129327173/en/
Jason Reilley Vice President Investor Relations AvalonBay
Communities, Inc. 703-317-4681
Avalonbay Communities (NYSE:AVB)
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