– USA, TX – Stratus Properties Inc. (NASDAQ: STRS) announced today the appointment of John C. Schweitzer to its Board of Directors. Mr. Schweitzer was appointed by the Board upon the recommendation of the Nominating and Corporate Governance Committee, will serve as a Class II director and will be up for re-election to the Board in 2018. He will fill a vacancy created by the resignation of John G. Wenker.
John C. Schweitzer, age 71, has over 40 years of experience in the real estate industry and has previously served on the boards of numerous public companies. He has a strong background in business and finance with extensive experience in public company strategies, executive compensation and human resources. Mr. Schweitzer has served as President of Westgate Corporation, a real estate investment and venture capital firm headquartered in Austin, Texas, since 1977. He also currently serves as lead director of Regency Centers Corporation, a publicly-traded real estate investment trust, and has served on its Board since 1999. Mr. Schweitzer previously served as a member of Pacific Retail Trust’s Board of Trustees before its merger into Regency in 1999 and as a director or officer of a number of other public companies and financial institutions, including Archstone-Smith Trust, J.P. Morgan Chase Bank of Texas-Austin, Franklin Federal Bancorp, Elgin Clock Company, El Paso Electric Company, MBank El Paso, the Circle K Corporation, Homestead Village Incorporated and Enerserv Products.
William H. Armstrong III, Chairman of the Board, President and Chief Executive Officer of Stratus, stated, “We are pleased to welcome John Schweitzer to our Board of Directors and look forward to his guidance and counsel. John’s extensive experience as a Board member and in-depth knowledge of the Austin real estate market will make him a valuable member of our Board of Directors. His strong background in business and finance will allow him to provide strategic insight as we implement our Board-approved five-year plan.”
Stratus’ Board of Directors is comprised of six members, including five independent directors, who possess a diverse range of perspectives and experience.
Stratus is a diversified real estate company engaged primarily in the acquisition, entitlement, development, management, operation and sale of commercial, hotel, entertainment, and multi- and single-family residential real estate properties, primarily located in the Austin area, but including projects in certain other select markets in Texas.
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