– USA, VA – AvalonBay Communities, Inc. (NYSE: AVB) today announced the appointment of current President and Board member Ben Schall to the additional role of CEO, effective January 3, 2022.
Concurrently, the current Board Chairman and CEO, Tim Naughton, will retire as CEO and assume the role of Executive Chairman of the Board of Directors.
“During the past year, Ben has proven to be a wonderful steward of AvalonBay’s culture, meaningfully connecting with AvalonBay’s associates across the organization, in our regions, and at our communities. He shares our organizational values, our vision of success, and our commitment to creating an inclusive and diverse workplace,” said Tim Naughton.
He added: “Since joining AvalonBay in January 2021, Ben has become integrally involved across the organization and, externally, has established relationships with many of our key stakeholders and shareholders. As we continue to grow, execute and innovate, Ben and the executive team are well-positioned to lead the Company forward.”
“I am honored to be a part of the amazing group of people at AvalonBay as we strive to fulfill our purpose of Creating a Better Way to Live. Our core values – a commitment to integrity, a focus on continuous improvement, and a spirit of caring – permeate across the organization and serve as a true differentiator,” commented Ben Schall. “Thank you to the Board for their trust and confidence, and to Tim for his continued guidance. As a senior team and organization, we are energized as we shape the future course of AvalonBay and position the company for continued growth and success.”
About AvalonBay Communities, Inc.
As of September 30, 2021, the Company owned or held a direct or indirect ownership interest in 293 apartment communities containing 87,416 apartment homes in 13 states and the District of Columbia, of which 17 communities were under development and one community was under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring, and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company’s expansion markets of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.
For more information: https://www.avaloncommunities.com/
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