CenterPoint’s Mullen to Retire as CEO and Become Board Vice Chair
OAK BROOK, Ill., June 8, 2011 /PRNewswire/ — CenterPoint Properties Trust (“CenterPoint”) announced today that Mike Mullen will retire as Chief Executive Officer September 30, 2011 and be succeeded by Paul Fisher, currently President. Mullen, a founder of CenterPoint who guided the company as CEO since 2005, will become Vice Chair of the Board of Trustees and will also serve on the firm’s Asset Allocation Committee.
“I’ve enjoyed my years at CenterPoint and especially the opportunity over the last six years to lead an extraordinary group of people,” said Mr. Mullen. “Together, through some tough economic times, we’ve transformed CenterPoint from Chicago’s largest industrial property investor and developer into a national firm focused on rail and port infrastructure on major freight lanes, and synergistic industrial property opportunities. I’m confident the firm is on the right strategic course and in good hands with Paul who partnered with me in guiding the firm. I’m pleased that as Vice Chair I can help Paul and his colleagues prosper.”
Fisher, also a founder of the company, has been President since 2005 and previously served as Chief Financial Officer. CenterPoint Properties Trust was traded publicly from 1993 until 2006, when it was acquired and privatized by the California Public Employees’ Retirement System (“CalPERS”). GI Partners (“GI”), located in Menlo Park, California, manages CalPERS’ investment in CenterPoint. John K. Saer, Jr., a Managing Director of GI and CenterPoint’s Executive Chairman, stated: “Over his 35 year career Mike has been an industry light, and in his 18 years at the company has been a tireless and invaluable contributor to CenterPoint’s growth and success. Mike can justly claim many notable accomplishments over his long and successful career. Among them, Mike envisioned and developed the first intermodal anchored industrial park near Chicago, which has become a model for the logistics business and the paradigm for the company’s current national investment strategy. We’re delighted that Mike will remain on the Board and be available to advise Paul and the senior leadership team, who we are confident will ably carry the firm forward.”
About CenterPoint Properties Trust:
CenterPoint, a leading industrial real estate company, focuses on the acquisition, development and redevelopment of port and intermodal related properties offering customers supply chain savings. The company’s investments, including 8000 acres under development in intermodal logistics business parks, are strategically located in the nation’s transportation hubs. For more information, please visit www.centerpoint-prop.com.
SOURCE CenterPoint Properties Trust