ATLANTA, Sept. 18, 2018 /PRNewswire/ -- Cousins
Properties Incorporated (NYSE: CUZ) announced today that its Board
of Directors has named Colin
Connolly Chief Executive Officer of the Company, effective
January 1, 2019. Larry Gellerstedt, the Company's current
Chairman and Chief Executive Officer, will transition to Executive
Chairman.
"Colin's promotion is part of a deliberate and planned
succession effort that will allow Cousins Properties to benefit
from his ideas, energy and strategic leadership skills, while
continuing its evolution into a larger, highly focused company,"
said Mr. Gellerstedt. "We have a rock-solid team that has worked
closely together for more than seven years and has grown this
company to more than $5 billion in
total market capitalization."
"Colin has been integral in the execution of our strategy, and
he understands our legacy in the communities we serve. I have never
been more confident about the prospects for the Company and the
Board and I believe Colin is uniquely qualified to lead Cousins
Properties into the future."
Mr. Connolly, 42, joined Cousins Properties in 2011 as Senior
Vice President focused on acquisitions and dispositions. He became
Senior Vice President and Chief Investment Officer in May 2013, Executive Vice President and Chief
Investment Officer in December 2015
and Executive Vice President and Chief Operating Officer in
July 2016. Last July, Mr. Connolly
was named President of the Company, a title he will retain in
addition to his role as Chief Executive Officer.
Mr. Connolly attended Washington & Lee
University, earning a Bachelor of Science in business
administration and accounting. He later earned a Master of Business
Administration at The University of
Virginia's Darden School of
Business.
"Growing up in Atlanta, I have
a deep appreciation for Cousins Properties and its importance to
this community," said Mr. Connolly. "The opportunity to work side
by side with Larry and our outstanding team for more than seven
years has been tremendous, and I have total confidence that our
top-quality Sun Belt portfolio and strong balance sheet leave us
well positioned to maintain our standing as one of the top urban
real estate investment trusts in the marketplace."
Mr. Gellerstedt, 62, was named Chief Executive Officer of
Cousins in 2009, and his role as Executive Chairman will focus on
strategy, key client relationships, board governance and civic
engagement.
"We're thankful that Larry has agreed to continue as our
Executive Chairman to guide strategy and to do what he has done so
well for nearly a decade: ensure that Cousins sets the standard for
commercial property ownership, management and development in our
key markets," said Taylor Glover,
the Company's Lead Independent Director. "This announcement is a
key milestone in our succession planning effort, and the Board has
complete confidence in Colin and his team."
About Cousins Properties
Cousins Properties is a fully integrated, self-administered and
self-managed real estate investment trust (REIT). The Company,
based in Atlanta, GA and acting
through its operating partnership, Cousins Properties LP, primarily
invests in Class A office towers located in high-growth Sun Belt
markets. Founded in 1958, Cousins creates shareholder value through
its extensive expertise in the development, acquisition, leasing
and management of high-quality real estate assets. The Company has
a comprehensive strategy in place based on a simple platform,
trophy assets and opportunistic investments. For more information,
please visit www.cousins.com.
FOR INVESTORS:
Roni
Imbeaux
Vice President, Finance and Investor Relations
Cousins Properties
404-407-1104
rimbeaux@cousins.com
FOR
MEDIA:
Brian Brodrick
Jackson Spalding
404-983-4384
bbrodrick@jacksonspalding.com
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SOURCE Cousins Properties Incorporated