PS Bus. Parks Appoints Jeffrey D. Hedges as Chief Financial Officer & Promotes Trenton A. Groves to Chief Accounting Officer
September 07 2018 - 5:00PM
Business Wire
PS Business Parks, Inc. (NYSE:PSB) today announced the
appointment of Jeffrey D. Hedges as Executive Vice
President, Chief Financial Officer and Secretary and the promotion
of Trenton A. Groves to Senior Vice President, Chief
Accounting Officer and Assistant Secretary effective September 17,
2018.
Mr. Hedges joins PS Business Parks from Invitation Homes
(NYSE:INVH) (formerly known as Starwood Waypoint Homes and prior to
that Colony Starwood Homes), a publicly traded single-family
residential Real Estate Investment Trust (“REIT”) that owns and
operates single-family rental homes in the United States, where he
served as Senior Vice President, Accounting and Reporting, since
2015. Previously, Mr. Hedges was a Senior Manager at Ernst &
Young LLP, a multi-national professional services firm, where he
served in the Transaction Advisory Services and Assurance (Audit)
groups. Mr. Hedges is a certified public accountant and holds a
Bachelor of Science from the W.P. Carey School of Business, Arizona
State University, and a Master of Business Administration from the
Wharton School, University of Pennsylvania.
Mr. Groves joined PS Business Parks as Corporate Controller in
2004 and has served as Vice President, Finance, and Corporate
Controller since 2007. Prior to joining the Company, Mr. Groves was
in public accounting, serving as a manager in Assurance at Ernst
& Young LLP and Arthur Andersen LLP. Mr. Groves is a certified
public accountant and holds a Bachelor of Science in Accounting
from California State University, Northridge.
“We’re excited to welcome Jeff to PS Business Parks as our new
CFO and to announce Trenton’s promotion to Chief Accounting
Officer,” said Maria Hawthorne, President and Chief Executive
Officer of PSB. “Jeff brings extensive financial, management and
strategic experience. This, combined with his extensive leadership
and industry background, transaction execution and excellent track
record of leading the finance function at a publicly traded REIT,
will be a huge asset to the Company. Trenton is a seasoned finance
leader who has a deep understanding of our business,”
Ms. Hawthorne added. “This is a well-deserved promotion, and I
look forward to continuing to work with Trenton in the coming
years.”
Company Information
PS Business Parks, Inc., a member of the S&P SmallCap 600,
is a REIT that acquires, develops, owns and operates commercial
properties, primarily multi-tenant industrial, flex and office
space. As of June 30, 2018, the Company wholly owned 28.3 million
rentable square feet with approximately 5,000 commercial customers
in six states and a 95.0% interest in a 395-unit apartment
complex.
Forward-Looking
Statements
This news release contains certain forward-looking statements
within the meaning of applicable securities laws, including
statements regarding PSB’s appointment of its new Chief Financial
Officer. Words such as “expects,” “anticipates,” “will” and
“intends” or similar expressions are intended to identify
forward-looking statements. The forward-looking statements
contained in this news release represent PSB’s expectations as of
the date of this news release, or as of the date they are otherwise
stated to be made, and subsequent events may cause these
expectations to change. The Company undertakes no obligation to
publicly update or revise any forward-looking statements, whether
because of new information, future events or otherwise, except as
may be required by law.
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PS Business Parks, Inc.Maria R. Hawthorne(818) 244-8080, Ext.
1370
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