- Signs for push-out forces
- After around nine years on the job
- Praise, thanks and good wishes for Graf
- Daniel Perry taking over
(management-change.com) — Austin, Texas, January 10, 2017 — Jon Graf, finance chief of American Campus, leaves. As announced by American Campus Communities in a news release and in a regulatory filing published on Tuesday, January 10, 2017, Jonathan A. (Jon) Graf leaves the post as Chief Financial Officer at the owner of student housing properties in a surprising move after around nine years on the job, effective March 31, 2017.
Graf leaves the company effective June 30, 2017.
Graf’s duties are taken over by Daniel Perry, currently EVP of Corporate Finance & Capital Markets at American Campus Communities.
The move is part of a management shake-up.
“To further advance the company’s long-term strategic business plan”
A reason for the change was not explicitly given. American Campus said: “American Campus Communities … today announced it is advancing its succession plan with a series of internal promotions to ensure the company is fully exploiting the breadth of executive talent available to further advance the company’s long-term strategic business plan.”
American Campus said: “Effective as of March 31, 2017, Jonathan A. Graf will resign as the Company’s Executive Vice President and Chief Financial Officer, and will retire from the Company effective as of June 30, 2017.”
Precise information about the future plans of Graf was not immediately available.
Share price rise since July 2015
The change follows a rise in the share price of American Campus Communities since July 2015.
Chaired by Edward Lowenthal
American Campus Communities is chaired by Edward Lowenthal.
Lowenthal has served on the board of directors since August 2004.
CEO: Bill Bayless
Bill Bayless has been the Chief Executive Officer of American Campus Communities, Inc. since October 2003.
On the job as CFO since 2007
Graf serves as an Executive Vice President at American Campus Communities, Inc. and has been its Chief Financial Officer since November 1, 2007.
Graf has been an integral part of the executive team, having joined the company in conjunction with its IPO in 2004; initially serving as Corporate Controller, being promoted to Chief Accounting Officer in 2005, and ultimately serving as Chief Financial Officer since 2007.
His career began at Ernst & Young LLP in San Antonio, auditing the books for privately held companies ranging from the San Antonio Spurs and Pace Foods to banks, hospitals, and much more.
Four years later, Graf began working with public companies and found he truly enjoyed the technical side of regulatory compliance and reporting.
After seven years with Ernst & Young, Graf moved on to Southern Union Company, starting first in financial reporting and SEC filings.
Over the course of 10 years, he undertook more and more responsibilities – ultimately serving as VP and controller for the company.
Graf is a licensed CPA and an active member of the local area Boy Scouts board.
He will continue to work closely with his successors in the finance and accounting departments during the upcoming transition period.
Signs for push-out forces
It is not completely certain what forces eventually triggered Jon Graf’s move.
The Push-out Score™ determined by management-change.com suggests that push-out forces may have contributed to the management change.
Read the full story in the management-change.com report 03.2017 ($).