- After less than one year in the position
- Good wishes for Chandler
- Steve Wilson taking over temporarily
(exechange) — Glendale, California, January 18, 2022 — This news came shortly after Martin Luther King Jr. Day. Mac Chandler, chief executive of PS Business, takes a medical leave of absence. As announced by PS Business Parks Inc. in a news release and in a regulatory filing published on Tuesday, January 18, 2022, Dan M. (Mac) Chandler has left his post as chief executive officer at the real estate investment trust (REIT), after less than one year in the role, effective January 17, 2022.
Mac Chandler’s duties as CEO will be taken over temporarily by Stephen W. (Steve) Wilson, a former Executive Vice President—Development at AvalonBay Communities, Inc., as interim Chief Executive Officer.
“Temporary leave of absence for health reasons”
PS Business said: “Dan “Mac” Chandler, III, the Company’s President and Chief Executive Officer, is taking a temporary leave of absence for health reasons unrelated to the coronavirus (COVID-19) pandemic, effective January 17, 2022.”
Share price increase since April 2021
The announcement follows an increase in PS Business Parks Inc.’s share price of 10% since April 2021. April 2021 is the month in which Chandler’s tenure as CEO began.
In the position of CEO since 2021
Mac Chandler became CEO of the Company in 2021.
Dan M. Chandler, III has been appointed to serve as the Company’s President and Chief Executive Officer effective April 5, 2021.
Chandler served as Executive Vice President, Chief Investment Officer at Regency Centers Corporation (Regency) (NASDAQ:REG), a public real estate investment trust that acquires, develops, owns, and operates open-air shopping centers in the United States, since August 2019.
Prior to that, Chandler served as Regency’s Executive Vice President of Investments since January 2016 and as Managing Director—West Region since 2015, where he oversaw the growth and management of the Regency’s portfolio and new investments throughout California, Oregon and Washington.
From 2007 to 2009, Chandler was a principal with Chandler Partners, a private commercial and residential real estate developer in Southern California.
He was a Managing Director—Northeast Investments for Regency from 2006 to 2007, Senior Vice President of Investments (So Cal/Mid-Atlantic) from 2002 to 2006, Vice President of Investments (So Cal) from 1999 to 2002 and was a Director—Project Development (So Cal) at Pacific Retail Trust (PRT) from 1997 until its merger with Regency in 1999.
Chandler holds a Bachelor of Science, a M.B.A. and a Master of Real Estate Development (M.R.E.D.) from the University of Southern California.
He is a member of the ICSC and the ULI, where he serves on the Small-Scale Development Council.
Push-out Score not determined
When the reason for the departure is health-related, a Push-out Score™ is not determined.
Read the full story in the exechange report 4.2022 ($).