PS Business Parks, Inc. Announces Election of Two New Directors
July 23 2019 - 4:10PM
Business Wire
PS Business Parks, Inc. (NYSE:PSB) today announced that its
Board of Directors elected Stephen W. Wilson and Kristy M. Pipes to
the Board. Mr. Wilson’s election is effective July 22, 2019, and
Ms. Pipes’s election is effective July 23, 2019.
Mr. Wilson, 63, retired, was Executive Vice
President—Development of AvalonBay Communities, Inc. (NYSE:AVB), a
real estate investment trust that develops, redevelops, acquires,
and manages multifamily communities in the United States. Mr.
Wilson held various senior leadership positions and was responsible
for development activities on the West Coast and Mid-Atlantic at
AvalonBay. Prior to joining AvalonBay in 1988, Mr. Wilson was
Senior Vice President and Chief Operating Officer of SU
Development, Inc. and Senior Vice President of Continental Pacific,
Inc., with responsibilities in development, debt and equity
financing, property management, and institutional sales.
Mr. Wilson received a Bachelor of Arts in Business
Administration (Accounting) from Washington State University.
He is a member of ULI, former chair of the ULI Transit Oriented
Development Council, a member of The American Institute of
Certified Public Accountants, is on the Board of Directors of the
Housing Industry Foundation, and sits on the U.C. Berkeley Fisher
Center Policy Advisory Board.
Ms. Pipes, 60, retired, was Managing Director and Chief
Financial Officer of Deloitte Consulting, a management consultancy
firm, where she managed the finance function, with operations in
the United States, India, Germany, and Mexico. Ms. Pipes held
various leadership positions, including serving on the firm’s
Management Committee and Consulting Operations Committee. Prior to
joining Deloitte in 1999, Ms. Pipes was Vice President and Manager,
Finance Division, at Transamerica Life Companies and Senior Vice
President and Chief of Staff for the President and Chief Executive
Officer (among other senior management positions) at First
Interstate Bank of California.
Ms. Pipes received a Bachelor of Arts in Business Economics and
a Masters in Business Administration from the University of
California, Los Angeles.
“We are pleased to welcome Steve Wilson and Kristy Pipes to the
PS Business Parks Board of Directors,” said Maria R. Hawthorne,
President and Chief Executive Officer of PS Business Parks. “With
Steve’s deep experience in real estate development, finance, and
accounting, and Kristy’s financial analysis and operational
expertise, they will both bring valuable perspective to our Board.
I look forward to their expert advice and counsel as members of our
Board of Directors.”
Company Information
PS Business Parks, Inc., a member of the S&P MidCap 400, is
a REIT that acquires, develops, owns, and operates commercial
properties, primarily multitenant industrial, flex, and office
space. As of June 30, 2019, the Company wholly owned 28.3 million
rentable square feet with approximately 5,100 commercial customers
in six states and held a 95.0% interest in a 395-unit apartment
complex. Additional information about PS Business Parks, Inc., is
available on the Company’s website, which can be found at
psbusinessparks.com.
Forward-Looking
Statements
This news release contains certain forward-looking statements
within the meaning of applicable securities laws, including
statements regarding PSB’s election of its new directors. 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 publicly to 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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Jeff Hedges (818) 244-8080, Ext. 1649
PS Business Parks (NYSE:PSB)
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