SANTA ANA, CA – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, has announced its board of directors has unanimously appointed C. Michael Kojaian non-executive chairman of the board, effective immediately.Kojaian replaces Glenn L. Carpenter, who is stepping down as chairman, but remains on the board as an independent director.
“We couldn’t be more appreciative of Glenn’s guidance and contributions over the past 12 months. As chairman, his leadership and insight were invaluable during a period in which both our company and the industry saw considerable change,” said Gary H. Hunt, interim chief executive officer of Grubb & Ellis. “We are extremely fortunate to continue to have Glenn as a member of our board.”
Hunt called Kojaian’s appointment as chairman “extremely positive” for the company.
Hunt called Kojaian’s appointment as chairman “extremely positive” for the company.
“Michael is one of the most astute real estate executives in our industry today, and he has been one of the company’s biggest supporters for more than a decade,” he said. “No one is more qualified than Michael Kojaian to serve as chairman of Grubb & Ellis. As the company’s largest stockholder, his interests are clearly aligned with our long-term success, which should be extremely beneficial to our clients, our employees and our stockholders.”
Kojaian has been a member of the Grubb & Ellis board of directors since 1996. He served as chairman from June 2002 through the completion of the company’s merger with NNN Realty Advisors, LLC in December 2007. He is president of Kojaian Ventures, LLC and executive vice president of Kojaian Management Corporation, both of which are investment firms. He is also a director of Arbor Realty Trust, Inc.
Carpenter joined the NNN Realty Advisors board in 2006, and became a member of the Grubb & Ellis board of directors following the completion of the merger. He was named chairman in February 2008.
Contact: Janice McDill, 312.698.6707, janice.mcdill@grubb-ellis.com
Kojaian has been a member of the Grubb & Ellis board of directors since 1996. He served as chairman from June 2002 through the completion of the company’s merger with NNN Realty Advisors, LLC in December 2007. He is president of Kojaian Ventures, LLC and executive vice president of Kojaian Management Corporation, both of which are investment firms. He is also a director of Arbor Realty Trust, Inc.
Carpenter joined the NNN Realty Advisors board in 2006, and became a member of the Grubb & Ellis board of directors following the completion of the merger. He was named chairman in February 2008.
Contact: Janice McDill, 312.698.6707, janice.mcdill@grubb-ellis.com
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