AvalonBay Communities, Inc. Announces Retirement of H. Jay Sarles from Board of Directors & Nomination of Christopher Howard ...
February 25 2021 - 04:30PM
Business Wire
AvalonBay Communities, Inc. (NYSE: AVB) announced today
that H. Jay Sarles, who has been a director of the Company since
2005, will retire from the Board at the end of his current term in
May 2021. During his tenure on the Board, Mr. Sarles has, at
various times, served as the Lead Independent Director and as the
Chair of the Nominating and Corporate Governance and Audit
Committees of the Board. The Board has nominated all current
directors other than Mr. Sarles for re-election at the 2021 Annual
Meeting of Stockholders.
The Board also announced that it has nominated for election, at
the Company’s May 20, 2021 Annual Meeting of Stockholders,
Christopher B. Howard and Nnenna Lynch.
Dr. Howard, 52, is the President of Robert Morris University
(PA). He has prior experience in other leadership positions in
higher education as well as experience in the military and private
sectors. Dr. Howard is a graduate of the U.S. Air Force Academy,
Oxford University (which he attended as a Rhodes Scholar and from
which he earned a doctorate in politics) and the Harvard Business
School.
Ms. Lynch, 49, is the Founder and CEO of Xylem Projects, a new
real estate development venture that she founded after serving as
the Head of Development for The Georgetown Company. Her prior
experience includes serving as a Senior Policy Advisor in the
Bloomberg mayoral administration in New York City where, among
other duties, she led initiatives that resulted in the
redevelopment and construction of new housing and commercial space.
Ms. Lynch is a graduate of Villanova University and Oxford
University (which she attended as a Rhodes Scholar and from which
she earned a master’s degree in social anthropology).
“Jay has contributed to AvalonBay in many ways over the almost
16 years he has been on our Board, and we have benefited from his
insights on finance, governance and general business matters. Jay
has also long played an important role in helping us select
talented individuals, such as Chris and Nnenna, for service on our
Board and as part of regular Board refreshment,” said Timothy J.
Naughton, Chairman and CEO.
“Chris and Nnenna will bring new experiences and perspectives to
our Board that will benefit our business as well as our associates,
residents and the communities we do business in,” said W. Edward
Walter, Lead Independent Director. “We look forward to their
election to the Board at our upcoming annual meeting.”
The Nominating and Corporate Governance Committee of the
Company’s Board of Directors conducted the search that led to the
nominations of Dr. Howard and Ms. Lynch with the assistance of
Ferguson Partners LP.
About AvalonBay Communities, Inc.
As of December 31, 2020, the Company owned or held a direct or
indirect ownership interest in 291 apartment communities containing
86,025 apartment homes in 11 states and the District of Columbia,
of which 18 communities were under development and one community
was under redevelopment. The Company is an equity REIT in the
business of developing, redeveloping, acquiring and managing
apartment communities in leading metropolitan areas in New England,
the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific
Northwest, and Northern and Southern California, as well as in the
Company's expansion markets consisting of Southeast Florida and
Denver, Colorado (the "Expansion Markets"). More information may be
found on the Company’s website at http://www.avalonbay.com.
Copyright © 2021 AvalonBay Communities, Inc.
All Rights Reserved
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Jason Reilley Vice President Investor Relations AvalonBay
Communities, Inc. 703-317-4681
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