ATLANTA, GA--(BUSINESS WIRE)-- Post Properties, Inc. (NYSE: PPS), announced that Donald C. Wood (top right photo), age 50, President and CEO of Federal Realty Trust (NYSE: FRT), has been appointed to the Company’s Board of Directors. Mr. Wood’s appointment as an independent director anticipates the retirement one year from now, under the Company’s mandatory retirement policy, of Douglas Crocker II. Mr. Crocker will continue to serve as Vice Chairman of the Board until the Company’s 2012 Annual Meeting.
Said David P. Stockert (middle left photo) President and CEO of Post Properties, “We are delighted to have Don Wood bring to our Board his considerable experience as a successful REIT-industry CEO.
“Although our two companies focus on different real estate product types, we have complimentary retail and residential mixed-use development skills.
“Our companies also have experience working together over the years at Pentagon Row™, a dynamic mixed-use project located in Arlington, Virginia, where Federal developed and owns the retail component and Post developed and owns the residential.”
Said Wood: “I have admired Post’s commitment to product excellence ever since working together to develop Pentagon Row™ over a decade ago. I am honored to join the Post Board at a time that looks especially bright for high quality apartments in the U.S.”
Contact: David P. Stockert, 404-846-5000
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