Rexford Industrial Announces Appointment Of Debra Morris To Board Of Directors
Rexford Industrial Realty, Inc. (NYSE: REXR) announced the appointment of Debra L. Morris as an independent director effective December 31, 2020. Morris brings extensive experience in corporate finance and real estate, currently serving as CFO at Apria Healthcare and previously at SITEL Worldwide. Her addition aligns with the company’s goal of improving board diversity. Concurrently, Steven C. Good will retire from the Board. Morris will join the Audit and Compensation Committees, with Tyler Rose becoming Audit Committee Chair.
- Appointment of Debra Morris adds significant experience in corporate finance and real estate.
- Focused on enhancing board diversity through new appointments.
- Morris's previous roles may provide fresh insights and perspectives to the Board.
- Retirement of Steven Good may signal a loss of long-term institutional knowledge.
LOS ANGELES, Dec. 22, 2020 /PRNewswire/ -- Rexford Industrial Realty, Inc. (the "Company" or "Rexford Industrial") (NYSE: REXR), a real estate investment trust focused on creating value by investing in and operating industrial properties located in Southern California infill markets, today announced that Debra L. Morris has been appointed as an independent director to the Company's Board of Directors effective December 31, 2020.
Debra L. Morris is currently Executive Vice President, Chief Financial Officer of Apria Healthcare, a leading provider of integrated home healthcare equipment and related services in the United States, a role in which she has served since March 2013. Prior to joining Apria, Ms. Morris served as Chief Financial Officer—Americas for SITEL Worldwide Corporation, a global leader in business processing outsourcing, from 2010 to 2013. Prior to that she served with Tatum LLC, a national executive services firm, from 2004 to 2010 where she held roles as Partner and Director during her tenure. From 1999 to 2002 she was Chief Financial Officer of Caliber Collision Centers. Ms. Morris spent the earlier part of her career in various roles with CB Richard Ellis, including as Executive Vice President—Global Marketing and Integration and Executive Vice President—Global Chief Accounting Officer. She currently serves on the board and chairs the Audit Committee of ALC Schools, a provider of alternative student transportation for school districts nationwide.
"We are very pleased to welcome Debra to Rexford Industrial's Board of Directors," stated Tyler Rose, Director and Chairperson of the Company's Nominating and Corporate Governance Committee. "Debra will bring significant experience in corporate finance and real estate, and we expect the Board will benefit from her engagement and counsel as we continue to grow our innovative company and drive superior shareholder returns by investing in the infill Southern California industrial market."
In connection with Rexford Industrial's ongoing pursuit of enhanced board diversity and refreshment, Steven C. Good will be retiring from the Board concurrent with Ms. Morris' appointment. Mr. Good's decision to resign was not due to any disagreement with the Company on any matter relating to its operations, policies or practices.
"Having served on our Board since our IPO in 2013, we are very grateful to Steven for his many years of very valuable service to the Company and we wish him all the very best. We are excited for Debra to join our Board as we continue to add new perspectives," said Richard S. Ziman, Chairman of Rexford Industrial. Rexford Industrial's Co-CEOs, Michael Frankel and Howard Schwimmer, added "We thank Steven for his dedication and time-tested support of the Company. At the same time, we are pleased to welcome Debra as a new independent director as we embark upon our next stage of growth."
Ms. Morris will serve on the Company's Audit and Compensation Committees. Tyler Rose will be appointed Chairperson of the Audit committee and Diana Ingram will be appointed the Company's Chairperson of the Nominating and Governance Committee.
About Rexford Industrial
Rexford Industrial, a real estate investment trust focused on creating value by investing in and operating industrial properties throughout Southern California infill markets, owns 243 properties with approximately 31.0 million rentable square feet and manages an additional 20 properties with approximately 1.0 million rentable square feet.
For additional information, visit www.rexfordindustrial.com.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. While forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, they are not guarantees of future performance. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the reports and other filings by the Company with the U.S. Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2019 and the Current Report on Form 8-K filed with the SEC on or about the date of this press release. The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes.
Contact:
Investor Relations:
Stephen Swett
424 256 2153 ext. 401
investorrelations@rexfordindustrial.com
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SOURCE Rexford Industrial Realty, Inc.
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