LXP Industrial Trust Announces Beth Boulerice to Step Down as Chief Financial Officer and be Succeeded by Nathan Brunner
LXP Industrial Trust has announced that Beth Boulerice will step down as Chief Financial Officer and Treasurer on March 1, 2025, transitioning to an Executive Vice President role. Nathan Brunner, with extensive experience in real estate investment banking, will join as Executive Vice President of Capital Markets starting September 1, 2024, and will take over as CFO and Treasurer after Boulerice's transition. CEO T. Wilson Eglin praised Boulerice's contributions and expressed confidence in Brunner's ability to lead the finance team. This leadership change reflects LXP's commitment to succession planning and enhancing shareholder value.
- Nathan Brunner's appointment brings 19 years of investment banking experience.
- Brunner's expertise in industrial and net lease real estate sectors is valuable for LXP.
- Succession planning indicates a strategic approach to leadership transitions.
- Boulerice's continued role as Executive Vice President ensures knowledge retention.
- CEO and Independent Trustee express confidence in new leadership, indicating stability and optimism.
- Potential disruption during the transition period from September 2024 to March 2025.
- Dependency on Brunner's ability to quickly adapt and maintain the company's financial stability.
- Market uncertainty regarding leadership changes could affect stock performance.
Brunner to serve as Executive Vice President of Capital Markets effective September 1, 2024 and will assume the roles of Chief Financial Officer and Treasurer on March 1, 2025
WEST PALM BEACH, Fla., May 30, 2024 (GLOBE NEWSWIRE) -- LXP Industrial Trust (NYSE: LXP) (“LXP”), a real estate investment trust (REIT) focused on single-tenant industrial real estate investments, today announced that Beth Boulerice will step down from her roles as Chief Financial Officer and Treasurer, effective March 1, 2025. Following such date, she will continue to serve as an Executive Vice President, advising the Chief Executive Officer and working with the Corporate and Accounting departments. LXP also announced that Nathan Brunner has been appointed Executive Vice President of Capital Markets, effective September 1, 2024, and will assume the roles of CFO and Treasurer upon Boulerice’s transition.
T. Wilson Eglin, Chief Executive Officer and President of LXP, commented, “On behalf of the entire company, I want to thank Beth for her years of service as LXP’s Chief Financial Officer and Treasurer. She has made numerous contributions to our growth and success over the years and has done a tremendous job as LXP’s CFO. We are fortunate to continue to benefit from her valuable insights as she transitions to her new role at LXP.”
Eglin continued, “We are thrilled to welcome Nathan to LXP. Nathan has an impressive background in real estate investment banking, including the industrial and net lease sectors, and considerable expertise in M&A and corporate finance that will make him a valuable member of our team. I look forward to working closely with him and the rest of the executive team during the transition to support him as he prepares for the CFO role. I am confident he is a great fit for our business and the right person to lead our finance team as we move forward.”
Jamie Handwerker, Lead Independent Trustee of LXP, commented “Over her 17-year tenure with LXP, Beth has played an integral role in our success and we thank her for all of her hard work and her efforts to ensure we have a seamless transition. We are delighted to add Nathan to the LXP management team and look forward to his future appointment as Chief Financial Officer and Treasurer. Nathan’s appointment reflects the Board’s commitment to thoughtful succession planning to ensure we are adding leaders with the skills and experience to support our mission to enhance shareholder value.”
Brunner brings over 19 years of investment banking experience, including approximately 14 years focused exclusively on real estate at J.P. Morgan, where he most recently served as a Managing Director in the firm’s Real Estate Investment Banking group. Brunner has particular expertise in the industrial and net lease real estate sectors, specifically relating to strategy, M&A and capital markets. He started his career at Macquarie Group, where he spent five years working with the Macquarie Infrastructure Funds and Investment Banking divisions. He received a Bachelor of Laws and a Bachelor of Commerce from the University of Queensland in Brisbane, Australia and a Graduate Diploma of Chartered Accounting from the Institute of Chartered Accountants in Australia.
ABOUT LXP INDUSTRIAL TRUST
LXP Industrial Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) focused on single-tenant warehouse and distribution investments across the United States. LXP seeks to expand its portfolio through acquisitions, development projects, and build-to-suit and sale/leaseback transactions. For more information or to follow LXP on social media, visit www.lxp.com.
Contact:
Investor or Media Inquiries for LXP Industrial Trust:
Heather Gentry, Senior Vice President of Investor Relations
Lexington Realty Trust
Phone: (212) 692-7200 E-mail: hgentry@lxp.com
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