Kite Realty Group Trust Expands Board of Trustees and Announces the Appointment of Derrick Burks

Rhea-AI Summary

Kite Realty Group Trust (NYSE:KRG) has appointed Derrick Burks to its Board of Trustees, expanding the board to ten members. Burks, a former partner at Ernst & Young with extensive experience in various industries and REITs, is expected to enhance KRG’s leadership. His prior experience includes 24 years at Arthur Andersen and current board roles at Equity LifeStyle Properties and other civic organizations. This appointment aligns with KRG's strategy to strengthen its governance and drive long-term goals.

Positive

• Derrick Burks brings extensive experience from Ernst & Young, which could enhance strategic decision-making.
• The addition of an independent trustee may improve corporate governance and shareholder confidence.

Negative

• None.

INDIANAPOLIS, March 25, 2021 (GLOBE NEWSWIRE) -- Kite Realty Group Trust (NYSE:KRG) is pleased to announce the appointment of Derrick Burks to its Board of Trustees. Mr. Burks is a retired partner from Ernst & Young (EY) where he served for 15 years, including time as managing partner of EY’s Indianapolis office. Kite Realty Group Trust expanded its Board to ten trustees with the addition of Mr. Burks, another independent Board member.

“We are thrilled with the addition of Derrick Burks to our Board of Trustees,” said John A. Kite, Chairman and CEO. “Derrick’s wealth of knowledge in a multitude of industries, coupled with his extensive experience with REITs, will greatly strengthen KRG moving forward and further propel us toward our long-term objectives.”

Prior to joining Ernst & Young, Mr. Burks spent 24 years with Arthur Andersen. Mr. Burks has experience on private and public company boards, including currently sitting on Equity LifeStyle Properties, Inc.’s (NYSE:ELS) Board of Directors. He has been actively involved with a variety of civic and community agencies throughout his career, and is presently engaged on the boards of the Indiana University Foundation and the Regenstrief Foundation. Mr. Burks received his Bachelor of Science degree in accounting from Indiana University’s Kelley School of Business.

About Kite Realty Group Trust

Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. We connect consumers to tenants in desirable markets through our portfolio of community, neighborhood, and lifestyle centers. Using operational, development, and redevelopment expertise, we continuously optimize our portfolio to maximize value and return to our shareholders.

For more information, please visit kiterealty.com.

Contact Information: Kite Realty Group Trust        
                        
Bryan McCarthy
SVP, Marketing & Communications
317.713.5692
bmccarthy@kiterealty.com

FAQ

Who is Derrick Burks and what is his background related to KRG?

Derrick Burks is a retired partner from Ernst & Young with 15 years of experience, including managing the Indianapolis office. He has also worked at Arthur Andersen for 24 years and serves on multiple boards, which brings diverse expertise to KRG's Board of Trustees.

Why did Kite Realty Group Trust expand its Board of Trustees?

Kite Realty Group Trust expanded its Board to enhance governance and leverage Derrick Burks' extensive experience in various industries and REITs to propel the company toward its long-term objectives.

What impact might Derrick Burks' appointment have on Kite Realty Group Trust?

Derrick Burks' appointment is expected to strengthen KRG's leadership and governance, potentially leading to improved strategic direction and shareholder value.