ATLANTA — Atlanta-based REIT Cousins Properties Inc. (NYSE: CUZ) has named Colin Connolly CEO, effective Jan. 1, 2019. Larry Gellerstedt, the company’s current chairman and CEO, will transition to executive chairman.
“Colin’s promotion is part of a deliberate and planned succession effort that will allow Cousins Properties to benefit from his ideas, energy and strategic leadership skills, while continuing its evolution into a larger, highly focused company,” said Gellerstedt.
Colin Connolly, Cousins Properties
Since joining Cousins Properties in 2011, Connolly, 42, has held the roles of senior vice president, chief investment officer, executive vice president and chief operating officer. Last year, he was named president of the company, a title he will retain in addition to his role as CEO.
“Growing up in Atlanta, I have a deep appreciation for Cousins Properties and its importance to this community,” said Connolly. “The opportunity to work side by side with Larry and our outstanding team for more than seven years has been tremendous, and I have total confidence that our top-quality Sunbelt portfolio and strong balance sheet leave us well positioned to maintain our position as one of the top urban [REITs] in the marketplace.”
Cousins Properties’ stock price closed at $9.08 per share on Tuesday, Sept.18, down from $9.37 per share a year earlier.