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Posted 03 October, 2022

ESSEX PROPERTY TRUST, INC. appointed Angela L. Kleiman as new CEO

NYSE:ESS appointed new Chief Executive Officer Angela L. Kleiman in a 8-K filed on 03 October, 2022.


  The Company also announced that Angela L. Kleiman, age 52, who is currently the Company's Senior Executive Vice President and Chief Operating Officer, will succeed Mr. Schall as the Company's Chief Executive Officer and President effective as of April 1, 2023.  

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Overview of ESSEX PROPERTY TRUST, INC.
Real Estate/Construction • Residential REITs
Essex Property Trust, Inc. operates as a real estate investment trust. It engages in the ownership, operation, management, acquisition, development, and re-development of predominantly apartment communities. The company was founded by George M. Marcus in 1971 and is headquartered in San Mateo, CA.
Market Cap
$18.2B
View Company Details
ESSEX PROPERTY TRUST, INC. by TradingView
Relevant filing section
Item 5.02 
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


On October 3, 2022, Essex Property Trust, Inc. (the "Company") announced the planned retirement of Michael J. Schall, its Chief Executive Officer and President since 2011, effective as of March 31, 2023 (the "Transition Date"), and that the Company entered into a Transition Services Agreement with Mr. Schall (the "Agreement") on October 3, 2022, pursuant to which Mr. Schall will transition from his current role into part-time employment with the Company for a twelve-month period commencing on the Transition Date.


The foregoing description of the Agreement does not purport to be complete and is subject to, and qualified in its entirety by reference to, the full text of the Agreement, which is filed as Exhibit 10.1 to this Current Report and incorporated herein by reference.


The Company also announced that Angela L. Kleiman, age 52, who is currently the Company's Senior Executive Vice President and Chief Operating Officer, will succeed Mr. Schall as the Company's Chief Executive Officer and President effective as of April 1, 2023. In addition, in connection with Mr. Schall's planned retirement and Ms. Kleiman's appointment to succeed Mr. Schall following the Transition Date, upon the recommendation of the Nominating and Corporate Governance Committee, and pursuant to the Sixth Amended and Restated Bylaws, as amended, of the Company, the Board of Directors (the "Board") of the Company increased the size of the Board to ten directors and elected Ms. Kleiman as a director, effective as of October 3, 2022.


The full biography and other information with respect to Ms. Kleiman required by Item 5.02(c) of Form 8-K are included in the Company's proxy statement on Schedule 14A for the 2022 annual meeting of stockholders filed with the SEC on March 25, 2022 under the heading "Executive Officers," and such biography is incorporated herein by reference. Ms. Kleiman will continue to participate in the usual compensation and benefit programs available to executive officers of the Company.