First Industrial Realty Trust, Inc. announced that President and Chief Executive Officer Bruce Duncan plans to retire by year-end 2016 as part of an orderly leadership transition. The Company also announced that Duncan has been appointed chairman of the board.
In addition, the independent directors of the board appointed John Rau, the chair of the nominating and governance committee of the board, to the position of lead independent director.
Rau has served as a director of First Industrial since 1994 and previously served as CEO of LaSalle Bank and Chicago Title and Trust. He is currently President and CEO of Chicago-based Miami Corporation, a private asset management firm.
