Piedmont Office Realty Trust Names Michael R. Buchanan as Chairman
ATLANTA - February 20, 2015 - Piedmont Office Realty Trust, Inc. (the "Company" or "Piedmont") (NYSE:PDM) announced today that the Board of Directors has named Michael R. Buchanan, a long-standing, independent director of the Company, as its new Chairman following the unexpected death of the Company's former Chairman, W. Wayne Woody, in January. Frank C. McDowell will continue to serve as Vice-Chairman of the Board.
"I'm honored to have the opportunity to serve Piedmont's shareholders and Board as Chairman," said Mr. Buchanan. "Throughout my association with the Company, I have been impressed with the attention to stewardship and service for both our tenants and shareholders, and I look forward to my continued involvement with the organization."
Mr. Buchanan was initially elected to the Board in 2002 and has at various points served on the Company's Compensation Committee, the Nominating and Corporate Governance Committee, and as Chairman of the Capital Committee. He retired in 2002 after over thirty years of employment with Bank of America, N.A. and its predecessor banks where he held several key positions, including Managing Director of the Real Estate Banking Group. Mr. Buchanan also currently serves as a director of D.R. Horton, Inc. (NYSE: DHI).
Commenting on the appointment, Donald A. Miller, CFA, Chief Executive Officer of Piedmont noted, "Mike has always been a valued and highly-respected member of the Board and we are honored that he has now accepted the Chairmanship. We will miss Wayne terribly but are confident that Mike has a deep appreciation for how our culture and operational objectives have evolved over the last decade and we look forward to his continued leadership and valuable insights as we move into this new era of Board leadership."
Piedmont Office Realty Trust, Inc. (NYSE: PDM) is an owner, manager, developer and operator of high-quality, Class A office properties located in select sub-markets of major U.S. cities. Its geographically-diversified, over $5 billion portfolio is comprised of more than 21 million square feet. The Company is a fully-integrated, self-managed real estate investment trust (REIT) with local management offices in each of its major markets and is investment-grade rated by Standard & Poor's (BBB) and Moody's (Baa2). For more information, see www.piedmontreit.com.
Contact: Kerry Hughes
Company: Piedmont Office Realty Trust
Phone: 1 770 418 8678