Equity Residential Announces Death of Trustee Raymond Bennett

Rhea-AI Summary

Equity Residential (NYSE: EQR) mourns the passing of Raymond “Ray” Bennett, a Board member since 2018, who died at 53. As President of U.S. and Canada Franchising at Marriott International (NASDAQ: MAR), Bennett contributed significant operational expertise to the company. Equity Residential's President and CEO, Mark J. Parrell, expressed deep condolences and highlighted Bennett's positive influence and contributions. Equity Residential focuses on managing residential properties in thriving urban areas, owning 310 properties with 80,227 apartment units across major U.S. cities.

Positive

• Equity Residential owns or has investments in 310 properties with 80,227 apartment units.
• The company is focused on affluent long-term renters in dynamic cities.

Negative

• The loss of a key Board member may impact company governance and strategic decisions.

CHICAGO--(BUSINESS WIRE)-- Equity Residential (NYSE: EQR) is deeply saddened to announce the death of Raymond “Ray” Bennett, a member of the Company’s Board of Trustees since 2018. Mr. Bennett, 53, was President, U.S. and Canada, Franchising and Managed by Marriott Select Brands for Marriott International, Inc. (NASDAQ: MAR).

(Photo: Business Wire)

“All of us that were fortunate to know Ray Bennett mourn this tremendous loss. As a senior Marriott executive, he brought vast operational knowledge to Equity Residential but he also brought a sharp mind and a quick smile. He will be greatly missed. We extend our deepest sympathies and support to Ray’s wife and children as well as his many friends and colleagues,” said Mark J. Parrell, Equity Residential’s President and CEO.

About Equity Residential

Equity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, is focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract affluent long-term renters. Equity Residential owns or has investments in 310 properties consisting of 80,227 apartment units, with an established presence in Boston, New York, Washington, D.C., Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft. Worth and Austin. For more information on Equity Residential, please visit our website at www.equityapartments.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20220509006123/en/

Marty McKenna (312) 928-1901

Source: Equity Residential

FAQ

What is the significance of Raymond Bennett's death for Equity Residential (EQR)?

Raymond Bennett's passing represents a significant loss for Equity Residential, potentially impacting company governance given his experience.

How many properties does Equity Residential (EQR) own?

Equity Residential owns or has investments in 310 properties consisting of 80,227 apartment units.

What is Equity Residential's focus in the real estate market?

Equity Residential focuses on acquiring, developing, and managing residential properties in dynamic cities that attract affluent long-term renters.

What role did Raymond Bennett hold at Marriott International (MAR)?

Raymond Bennett was the President of U.S. and Canada Franchising at Marriott International.