LOS
ANGELES, June 17, 2024 /PRNewswire/ -- Rexford
Industrial Realty, Inc. (the "Company" or "Rexford Industrial")
(NYSE: REXR), a real estate investment trust focused on creating
value by investing in and operating industrial properties located
throughout infill Southern
California, today announced that the Company has initiated a
process to recruit a new Chief Financial Officer (CFO) and,
upon the successful hire of a new CFO, to then elevate
Laura Clark, the Company's current
CFO, to the newly-established role of Chief Operating Officer
(COO). The Company has initiated an executive search
effort through Russell Reynolds Associates to
identify and appoint a new CFO.
"We'd like to thank Laura for her exemplary work
and contributions throughout the Company as Rexford's Chief
Financial Officer. Laura's elevation to the Chief Operating Officer
position will represent an exciting, natural expansion of her role
and company-wide impact," stated Michael Frankel and
Howard Schwimmer, Co-Chief Executive
Officers of the Company. "With an unprecedented opportunity for
growth and value-creation ahead to build upon Rexford Industrial's
focus on the nation's largest, highest-demand and lowest-supply
industrial market, the establishment of the Chief Operating Officer
role will optimize the alignment and execution of our
value-creation initiatives across the organization to maximize the
quality and accretive nature of our long-term growth."
Upon transition to COO, Ms. Clark will oversee the
operational and growth segments of the Company including
asset management, investments, development and construction,
leasing, property management and marketing, among others.
"The role of COO at Rexford Industrial will enhance our ability
to unite and execute upon our collective vision across
all facets of our business to maximize value creation for
shareholders through Rexford's next phase of growth," stated
Ms. Clark.
About Rexford Industrial
Rexford Industrial creates value by investing in, operating and
redeveloping industrial properties throughout infill Southern California, the world's fourth
largest industrial market and consistently the highest-demand with
lowest-supply major market in the nation. The Company's highly
differentiated strategy enables internal and external growth
opportunities through its proprietary value creation and asset
management capabilities. Rexford Industrial's high-quality,
irreplaceable portfolio comprises 422 properties with approximately
49.5 million rentable square feet occupied by a stable and diverse
tenant base. Structured as a real estate investment trust (REIT)
listed on the New York Stock Exchange under the ticker "REXR,"
Rexford Industrial is an S&P MidCap 400 Index member. For more
information, please visit www.rexfordindustrial.com.
Forward-Looking Statements
This press release may contain forward-looking statements within
the meaning of the federal securities laws, which are based on
current expectations, forecasts and assumptions that involve risks
and uncertainties that could cause actual outcomes and results to
differ materially. Forward-looking statements relate to
expectations, beliefs, projections, future plans and strategies,
anticipated events or trends and similar expressions concerning
matters that are not historical facts. In some cases, you can
identify forward-looking statements by the use of forward-looking
terminology such as "may," "will," "should," "expects," "intends,"
"plans," "anticipates," "believes," "estimates," "predicts," or
"potential" or the negative of these words and phrases or similar
words or phrases which are predictions of or indicate future
events or trends and which do not relate solely to historical
matters. While forward-looking statements reflect the Company's
good faith beliefs, assumptions and expectations, they are not
guarantees of future performance. For a further discussion of these
and other factors that could cause the Company's future results to
differ materially from any forward-looking statements, see the
reports and other filings by the Company with the U.S. Securities
and Exchange Commission, including the Company's Annual Report on
Form 10-K for the year ended December 31,
2023. The Company disclaims any obligation to publicly
update or revise any forward-looking statement to reflect changes
in underlying assumptions or factors, of new information, data or
methods, future events or other changes.
Contact:
Inquiries regarding Rexford Industrial's CFO executive
search should be directed to Debra Barbanel
(deb.barbanel@russellreynolds.com), Global Co-Head of Real
Estate at Russell Reynolds Associates.
Investorrelations@rexfordindustrial.com
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SOURCE Rexford Industrial Realty, Inc.