DENVER--(BUSINESS WIRE)--DCT Industrial Trust® (NYSE: DCT), a leading industrial real estate company, today announced that after more than 13 years of service, Mr. Thomas G. Wattles will be appointed the Company's Chairman Emeritus and will not stand for re-election to DCT Industrial’s Board of Directors at the Company’s Annual meeting on May 4, 2016. Mr. Wattles will remain on DCT Industrial’s Executive and Internal Investment Committees.
“On behalf of all of DCT and the members of the Board, we are extremely grateful for Tom’s leadership, dedication, tenure and service to the Company. Everyone at DCT has and will continue to benefit from his knowledge and expertise,” said Phil Hawkins, President and Chief Executive Officer of DCT Industrial. “Personally, I am very thankful for Tom’s perspective and candor, and for his friendship.”
As Chairman Emeritus and a member of the Executive and Internal Investment Committees, Mr. Wattles will carry on in his role of helping DCT evaluate portfolio management and capital deployment decisions. He will remain a pivotal figure, working with our markets to grow and develop the Company.
Based on a unanimous vote of the Board, upon his re-election as a director, Mr. Thomas F. August will be appointed to the position of Chairman, immediately following the Company’s Annual Meeting on May 4, 2016.
Mr. Wattles is a distinguished and accomplished figure in the national real estate community. He co-founded DCT in 2003 and was a part of the management team that took the Company through the IPO in December of 2006. He has more than 35 years of experience and has held a number of positions with distinguished companies. In 1992, he co-founded Security Capital Industrial Trust, now known as Prologis Trust, and served as its Chief Investment Officer, Chairman and Co-Chairman, and a member of the Board of Directors. As Managing Director and Chief Investment Officer of Security Capital Group, Mr. Wattles oversaw real estate research and served as a member of the Operating Committee as well as numerous private company boards of directors. He also spent 11 years with LaSalle Partners, now known as Jones Lang LaSalle.
Mr. Wattles currently serves as a director of Regency Centers where he chairs its Investment Committee and is a member of its Audit Committee. Additionally, Mr. Wattles serves as a director of Columbia Property Trust and is a member of its Operations and Audit Committees.
About DCT Industrial Trust®
DCT Industrial is a leading industrial real estate company specializing in the acquisition, development, leasing and management of bulk distribution and light industrial properties in high-volume distribution markets in the U.S. As of December 31, 2015, the Company owned interests in approximately 71.1 million square feet of properties leased to approximately 900 customers. DCT Industrial maintains a Baa2 rating from Moody’s Investors Service and a BBB- from Standard & Poor’s Rating Services. Additional information is available at www.dctindustrial.com.
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