Terreno Realty Corporation Adds Independent Director

Rhea-AI Summary

Terreno Realty (NYSE: TRNO) announced the appointment of Constance von Muehlen as an independent director, effective June 1, 2024. This addition expands the Board of Directors to eight members. Ms. von Muehlen is currently the Executive Vice President and Chief Operating Officer of Alaska Airlines, a position she has held since April 2021. She has a comprehensive background, including a Bachelor’s degree from Johns Hopkins University and an Executive MBA from the Foster School of Business at the University of Washington. Additionally, she holds an FAA Commercial Instrument Helicopter Pilot’s License and has served on various boards, including the FAA’s Women in Aviation advisory board and the San Jose Public Library Foundation board. Terreno Realty specializes in acquiring, owning, and operating industrial real estate in key coastal U.S. markets like Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C.

Positive

• Addition of an independent director with significant industry experience.
• Expansion of the Board of Directors to enhance governance.
• Appointment of a high-profile executive from a major airline.
• Constance von Muehlen’s extensive experience in operations and executive management.
• Ms. von Muehlen’s strong educational background with degrees from Johns Hopkins and the University of Washington.
• Diverse board experience including positions on FAA advisory and public library foundation boards.

Negative

• No immediate financial gain or impact mentioned.
• Potential for integration challenges with new board member.
• direct experience in the real estate sector.

BELLEVUE, Wash.--(BUSINESS WIRE)-- Terreno Realty Corporation (NYSE: TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, announced the addition of Constance von Muehlen as an independent director effective June 1, 2024, expanding its Board of Directors to eight. Ms. von Muehlen has served as Executive Vice President and Chief Operating Officer of Alaska Airlines since April 2021. Ms. von Muehlen holds an FAA Commercial Instrument Helicopter Pilot’s License, graduated with a Bachelor’s degree from Johns Hopkins University and graduated from the Executive MBA program at the Foster School of Business at the University of Washington. Ms. von Muehlen has served previously on the FAA’s Women in Aviation advisory board and the San Jose Public Library Foundation board.

Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles; Northern New Jersey/New York City; San Francisco Bay Area; Seattle; Miami; and Washington, D.C.

Additional information about Terreno Realty Corporation is available on the company’s web site at www.terreno.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. We caution investors that forward-looking statements are based on management’s beliefs and on assumptions made by, and information currently available to, management. When used, the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “project,” “result,” “should,” “will,” “seek,” “target,” “see,” “likely,” “position,” “opportunity,” “outlook,” “potential,” “enthusiastic,” “future” and similar expressions which do not relate solely to historical matters are intended to identify forward-looking statements. These statements are subject to risks, uncertainties, and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties, and factors that are beyond our control, including risks related to our ability to meet our estimated forecasts related to stabilized cap rates and those risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2023 and our other public filings. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, or projected. We expressly disclaim any responsibility to update our forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Accordingly, investors should use caution in relying on past forward-looking statements, which are based on results and trends at the time they are made, to anticipate future results or trends.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240529250572/en/

Jaime Cannon

415-655-4580

Source: Terreno Realty Corporation

FAQ

When will Constance von Muehlen join Terreno Realty's Board of Directors?

Constance von Muehlen will join the Board of Directors on June 1, 2024.

What is the current position of Constance von Muehlen at Alaska Airlines?

Constance von Muehlen is the Executive Vice President and Chief Operating Officer of Alaska Airlines.

What is the size of Terreno Realty's Board of Directors after this new appointment?

The Board of Directors will expand to eight members.

What educational qualifications does Constance von Muehlen hold?

She has a Bachelor’s degree from Johns Hopkins University and an Executive MBA from the University of Washington.

In which markets does Terreno Realty operate?

Terreno Realty operates in Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C.