TIER REIT Appoints Greg Whyte to Board of Directors
February 27 2017 - 3:15PM
Business Wire
TIER REIT, Inc. (NYSE: TIER), a Dallas-based real estate
investment trust, today announced the appointment of Greg Whyte as
an independent director, effective immediately. Mr. Whyte is the
second independent director added to the board in 2017. With this
appointment, the board will temporarily expand to eight directors,
seven of whom are independent and six of whom have joined the board
in the past three years.
Mr. Whyte joins the Company’s board with extensive REIT
knowledge and industry experience, initially as an equity research
analyst and, more recently, in investment banking. From 2007 to
2016, Mr. Whyte was a Senior Advisor in the Real Estate Leisure and
Lodging Investment Banking group at UBS Securities. Prior to that,
from 1991 to 2006, he was a Managing Director, Global Head of Real
Estate Equity Research at Morgan Stanley, and was consistently
named to the annual Institutional Investor All-America Research
Team and Greenwich Associates Research Poll. Mr. Whyte began his
research analyst career at Lehman Brothers in 1988.
“Greg joins TIER REIT at an exciting time and his depth of REIT
experience will provide additional acumen to our board. His unique
and independent perspective further strengthens the Company as we
build on our success in creating value for stockholders,” said
Chairman of the Board Rick Gilchrist. “We look forward to his
contributions as a board member.”
"I am honored to join the TIER REIT board and am excited to help
lead the Company forward," said Mr. Whyte. "TIER REIT’s focused
investment strategy, high quality assets and proven capabilities
position the Company well for continued growth and success, and I
am eager to begin working with the entire board and management team
to deliver further value for all TIER REIT stockholders."
TIER REIT today also announced that G. Ronald Witten has
informed the Company he will not stand for re-election as a
director at the Company’s 2017 Annual Meeting of Stockholders. On
January 23, 2017, the Company previously announced that Charles G.
Dannis would also not stand for re-election at the Annual Meeting.
Following the Annual Meeting, the Board of Directors will comprise
six directors.
Mr. Gilchrist added, “On behalf of the entire board, I thank Ron
for his years of service and the significant contributions he has
made to the Company. During his tenure, Ron was instrumental in
guiding the strategic vision of the Company to enhance value for
all TIER REIT stockholders. We wish him well in his future
endeavors.”
About TIER REIT, Inc.
TIER REIT, Inc. is a self-managed, Dallas-based real estate
investment trust focused on delivering outsized stockholder return
through stock price appreciation and dividend growth while offering
unparalleled tenant service. TIER REIT’s investment strategy is to
acquire, develop and operate a portfolio of best-in-class office
properties in select U.S. markets that consistently lead the nation
in both population and office-using employment growth. Within these
markets, we target TIER1 submarkets, which are primarily urban and
amenity-rich locations. For additional information regarding TIER
REIT, please visit www.tierreit.com or call 972.483.2400.
Forward-Looking Statements
Certain statements made in this press release that are not based
on historical information are forward-looking statements which are
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. This press release
contains express or implied forward-looking statements relating to
the Company’s upcoming 2017 Annual Meeting of Stockholders. TIER
REIT undertakes no obligation to update or revise the information
contained in this press release, whether as a result of new
information, future events or circumstances, or otherwise. For
additional disclosure regarding these and other risks faced by the
Company, see the disclosure contained in our public filings with
the Securities and Exchange Commission (SEC), including, without
limitation, our most recent Annual Report on Form 10-K and
Quarterly Report on Form 10-Q.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170227006427/en/
TIER REIT, Inc.Scott McLaughlin,
972-483-2465smclaughlin@tierreit.comorJoele Frank, Wilkinson
Brimmer KatcherAndrew Siegel / Adam Pollack, 212-355-4449
Tier Reit Inc. (NYSE:TIER)
Historical Stock Chart
From May 2024 to Jun 2024
Tier Reit Inc. (NYSE:TIER)
Historical Stock Chart
From Jun 2023 to Jun 2024