American Campus Communities Announces a Series of Executive Promotions and Upcoming Retirement of CFO
January 10 2017 - 4:23PM
Business Wire
American Campus Communities (NYSE: ACC), the nation’s largest
owner, manager and developer of high-quality student housing
properties in the U.S., 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.
Effective immediately, the company is separating the roles of
President and Chief Executive Officer, with Bill Bayless remaining
as CEO and Jim Hopke, Chief Operating Officer, being promoted to
the position of President. In this role, Jim will continue to
report directly to the CEO and provide executive oversight of
day-to-day business operations, advance the company’s asset and
portfolio management functions, and focus on furthering American
Campus’ best-in-class operating platform including strategic
oversight of the company’s Next Gen systems development working
closely with Chief Technology Officer Jorge de Cardenas.
Also effective immediately, Jennifer Beese, Executive Vice
President of Operations, Marketing, and Leasing is being promoted
to the position of Chief Operating Officer and will continue to
report directly to Mr. Hopke. Ms. Beese will continue to provide
executive oversight of marketing, leasing and property operations,
and functional support services. She will also assume executive
responsibility for human resources, corporate administration and
company culture. Hopke and Beese have a combined 30 plus years with
the company and have been leading its operations since 2014.
In addition, Jon Graf will step down as Chief Financial Officer
on March 31, 2017 and will be retiring from the company on June 30,
2017. 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. He led the company’s financial operations through
periods of substantial growth during which American Campus
Communities came to be recognized as the industry’s ‘best-in-class’
company. He will continue to work closely with his successors in
the finance and accounting departments during the upcoming
transition period.
Daniel Perry, EVP of Corporate Finance & Capital Markets,
who for years has been the company’s lead executive interacting
with investors, analysts and the banking community will be promoted
to Chief Financial Officer, effective March 31, 2017. Perry joined
the company in 2005 from Citigroup where he had worked on the
company’s IPO.
Effective immediately, Kim Voss, EVP and Controller, who joined
the company in 2004 from AMB, is being promoted to the position of
Chief Accounting Officer reporting directly to the CFO. Voss has
provided executive oversight of the company’s corporate accounting,
property accounting and public company reporting since her
promotion to EVP in May of 2015.
“On behalf of the entire Board of Directors, I’d like to
recognize and thank Jon Graf for more than a decade of service to
American Campus Communities and wish him well in his retirement
from the company,” said Ed Lowenthal, Independent Chairman of the
Board. “For nearly a decade, the Board has been working hand in
hand with Bill on executive development and succession planning.
These promotions represent a milestone related to that work and set
the stage for smooth executive succession in the decades
ahead.”
”It is very exciting to see each one of these talented
executives continue to advance their careers with American Campus
Communities,” said Bill Bayless, CEO. “Jim and I look forward to
fully developing the next generation of executives that will lead
this company for decades to come. Jennifer, Daniel and Kim, along
with William Talbot, our Chief Investment Officer, have been impact
players throughout their careers at American Campus Communities and
I am confident they will make even greater contributions at the
next levels of executive leadership. It’s truly an honor for me to
continue to lead the industry’s most talented group of executives
as CEO.”
Forward-Looking Statements
In addition to historical information, this press release
contains forward-looking statements under the federal securities
law. These statements are based on current expectations, estimates
and projections about the industry and markets in which American
Campus Communities operates, management's beliefs, and assumptions
made by management. Forward-looking statements are not guarantees
of future performance and involve certain risks and uncertainties,
which are difficult to predict.
About American Campus Communities
American Campus Communities, Inc. is the largest owner, manager
and developer of high-quality student housing communities in the
United States. The company is a fully integrated, self-managed and
self-administered equity real estate investment trust (REIT) with
expertise in the design, finance, development, construction
management and operational management of student housing
properties. As of September 30, 2016, American Campus Communities
owned 170 student housing properties containing approximately
105,300 beds. Including its owned and third-party managed
properties, ACC's total managed portfolio consisted of 205
properties with approximately 133,600 beds. Visit
www.americancampus.com.
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