Strategic Hotels & Resorts Appoints Richard Kincaid New Independent Director; Announces Resignation of Edward Coppola
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Strategic Hotels & Resorts Appoints Richard Kincaid New Independent Director; Announces Resignation of Edward Coppola
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Category: Worldwide - Careers -
Appointments
This is a press release selected by our editorial committee and published online for free on 2009-02-03
Strategic Hotels & Resorts, Inc. (NYSE:BEE), has appointed Richard D. Kincaid as an independent member of the Board of Directors. The Company also announced that Edward Coppola has resigned his position from the Board, effective immediately. With the appointment of Kincaid the Company's Board of Directors has eight members.
"We are fortunate to add a new board member who possesses not only leadership skills, but also deep real estate experience covering strategy, operations and finance," said William Prezant, chairman. "Richard has a proven record of business and board associations. His insight and knowledge will be invaluable as we work through the complexities of this challenging economic environment."
Richard D. Kincaid was the president and chief executive officer of Equity Office Properties Trust until its acquisition by the Blackstone Group in February of 2007. He also served as Equity Office's executive vice president and chief financial officer. He led the consolidation of the four private Zell/Merrill funds that created the portfolio for Equity Office's 1997 initial public offering.
Mr. Kincaid is on the board of directors of Rayonier Inc., an international REIT that specializes in timber and specialty fibers. He also serves on the board of directors of Vail Resorts, a mountain resort operator.
He is currently the President and Founder of the BeCause Foundation. The BeCause Foundation is a nonprofit corporation that heightens awareness about a number of complex social problems and promotes change through the power of film.
Prezant offered praise for departing board member Coppola, a director since 2006, who has determined that the constraints on his time are such that he can no longer adequately fulfill the duties of a director in light of his recent promotion to president of The Macerich Company, one of the nation's largest owners, operators and developers of regional shopping centers. Prezant said, "Ed Coppola brought to the Company's board a wealth of real estate experience and insight. On behalf of the board, our shareholders and employees, I thank Ed and wish him the best with his expanded executive responsibilities."
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