Leadership Shift at Piedmont Office Realty Trust: A New Era Begins
Leadership Transition at Piedmont Office Realty Trust
In a significant development, Piedmont Office Realty Trust, Inc. (NYSE:PDM) announces the transition of its long-serving Chief Financial Officer (CFO), Robert E. Bowers, to an administrative role. This change will be official starting November 8. Sherry L. Rexroad will assume the CFO position, bringing a wealth of expertise and over three decades of experience in real estate and finance.
Sherry L. Rexroad: A Proven Leader
Sherry L. Rexroad takes on the mantle of CFO after serving in the same role at STORE Capital, a notable publicly traded net-lease real estate investment trust (REIT). Her career is highlighted by ten years at BlackRock Global Real Asset Securities, where she held distinguished positions, including Global Head of Business Development and Co-Global Chief Investment Officer. Rexroad's extensive background and knowledge in managing real estate investments make her a valuable asset to Piedmont.
CEO's Commitment to the Company
C. Brent Smith, the Chief Executive Officer of Piedmont, expressed gratitude for Robert Bowers' contributions, stating that he has made a profound impact on the company since its public listing in 2010. Smith reflected on their strategic collaboration and emphasized the importance of Bowers’ role in shaping Piedmont’s journey. As Bowers transitions to focus on different priorities, the company rallies around its new CFO, looking forward to her leadership in the upcoming chapters.
Continuing Excellence
With a commitment to maintaining high standards, Piedmont Office Realty Trust continues to aim for excellence in the management of its properties. The company is recognized for its high-quality, Class A office properties, situated primarily in major Sunbelt markets across the U.S. Its expansive portfolio is valued at approximately $5 billion and spans around 16 million square feet, underscoring Piedmont's prominence in the real estate market.
About Piedmont Office Realty Trust
Piedmont Office Realty Trust, Inc. is proud to be a fully-integrated, self-managed REIT, ensuring that it maintains a strong local presence through its management offices throughout its markets. The company holds an investment-grade rating from S&P Global Ratings (BBB-) and Moody’s (Baa3), which highlights its financial stability and reliability in a competitive landscape.
Recognition and Achievements
In recognition of its commitment to sustainability, Piedmont was honored as a 2024 ENERGY STAR Partner of the Year – Sustained Excellence. This recognition reflects the company’s dedication to environmental stewardship and energy efficiency, key principles that resonate with modern investors.
Contact Information
For more inquiries, please reach out to: Sarah Heimlich
Company: Piedmont Office Realty Trust
Phone: 770-418-8800
Email: Investor.relations@Piedmontreit.com
Frequently Asked Questions
Who is the new CFO of Piedmont Office Realty Trust?
Sherry L. Rexroad is the newly appointed Chief Financial Officer, succeeding Robert E. Bowers.
What prior experience does Sherry L. Rexroad have?
Rexroad has nearly 30 years of experience in finance and REITs, including her recent role at STORE Capital.
What does Piedmont Office Realty Trust do?
Piedmont is focused on owning, managing, and developing high-quality Class A office properties primarily in the U.S. Sunbelt markets.
How large is Piedmont's property portfolio?
The company's property portfolio is valued at around $5 billion, comprising approximately 16 million square feet of office space.
What recognition has Piedmont received for its sustainability efforts?
Piedmont Office Realty Trust was named a 2024 ENERGY STAR Partner of the Year for its commitment to energy efficiency and sustainability.
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