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Equity Residential CEO David Neithercut To Retire; Mark Parrell Named Successor

Equity Residential (EQR), a developer of rental apartment properties, announced key executive management changes as part of its succession planning program.

David Neithercut, aged 62, the company's President and Chief Executive Officer since 2006, will retire as CEO on December 31, 2018.

Mark Parrell will succeed Neithercut as CEO and join the company's Board of Trustees. Neithercut will remain a member of the Board following his retirement.

Parrell, aged 52, has been appointed President effective today. He has served as the Company's Executive Vice President and Chief Financial Officer or CFO since 2007. From 2005 to 2007, Parrell served as the company's Senior Vice President and Treasurer and has held various roles in the company's finance group since 1999.

Robert Garechana, 39, has been appointed Executive Vice President and CFO effective today. Garechana currently serves as Senior Vice President and Treasurer of the company, has served as Treasurer since 2008, and held various other finance roles since joining the company in 2004.

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