AvalonBay Communities, Inc. Announces Board Changes
October 17 2022 - 4:15PM
Business Wire
Appointment of Charles “Chaz” E. Mueller,
Jr. and Retirement of Alan B. Buckelew
AVALONBAY COMMUNITIES, INC. (NYSE: AVB) (the “Company”)
announced today that Chaz Mueller has been appointed to the Board
of Directors effective November 1, 2022. Mr. Mueller will serve as
an independent director of the Company.
Mr. Mueller has experience with some of the most successful
companies engaged in the development, acquisition, operation, and
financing of residential rental real estate. His leadership
experience includes serving as Chief Executive Officer of Progress
Residential, President of Irvine Apartment Communities, and
President, Chief Operating Officer, and Chief Financial Officer of
Archstone, one of the largest publicly-traded multifamily real
estate investment trusts before going private in 2007. Mr. Mueller
continued to serve in leadership positions with Archstone until it
was acquired in 2013.
“Chaz’s understanding of our business is deep and broad,” said
Timothy J. Naughton, Chairman of AvalonBay, noting Chaz’s
investment and operating experience across a broad set of markets
and submarkets, his knowledge of both the multifamily and single
family residential rental sectors, and his deep understanding of
real estate capital markets. “Chaz’s appointment continues our
longstanding process of Board refreshment, and we look forward to
working with Chaz as AvalonBay expands into new markets, implements
innovative ways of doing business, and maintains its historic
emphasis on sound and thoughtful financial management.”
In connection with Chaz’s appointment and as part of the
Company’s refreshment process for the Board of Directors, Alan B.
Buckelew will be retiring from the Board and will not stand for
re-election at the May 2023 Annual Meeting of Stockholders. “We
thank Alan for his dedicated service, expertise and valuable
guidance to AvalonBay since joining our Board in 2011,” said Mr.
Naughton, noting Mr. Buckelew’s past service as Chair of the Audit
Committee and his service on other committees of the Board.
About AvalonBay Communities, Inc.
As of June 30, 2022, the Company owned or held a direct or
indirect ownership interest in 299 apartment communities containing
89,037 apartment homes in 12 states and the District of Columbia,
of which 17 communities were under development and two communities
were 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 of Raleigh-Durham and Charlotte, North
Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver,
Colorado. More information may be found on the Company’s website at
http://www.avalonbay.com.
Copyright © 2022 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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