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William H. Binnie will assume Crate's current role as Chairman of the Board.
The Board of Directors also appointed Meghan Baivier as President & COO, and Allison Marino as CFO & CAO
Easterly Government Properties, Inc. (NYSE:DEA) (the "Company" or "Easterly"), a fully integrated real estate investment trust ("REIT") focused primarily on the acquisition, development and management of Class A commercial properties leased to the U.S. Government, today announced that Darrell Crate, the Co-Founder and current Chairman of the Board, has been appointed as Chief Executive Officer (CEO), effective January 1, 2024.
In connection with Mr. Crate's appointment, William C. Trimble, III will retire from his position as President and CEO of Easterly effective December 31, 2023.
"Bill has been a valuable partner for over a decade," said Crate. "From the early days of establishing a private equity fund through taking our portfolio public and acquiring over eight million square feet of real estate, Bill has been a trusted collaborator," he added.
"Darrell and I co-founded this great organization in 2015, and I have every confidence he and the team will continue to drive shareholder value," said Trimble. "Further, I want to thank the Board of Directors and Easterly's exemplary employees for their dedication. Serving as CEO has been an honor, and I look forward to seeing the company continue to flourish."
As Co-Founder of the Company and Executive Chairman of the Board, Mr. Crate has played a crucial role in the development and execution of its operational strategy since inception. His transition to CEO ensures the Company's succession plan remains connected to Easterly's foundational mission and values.
William H. Binnie, currently the Company's Lead Independent Director has been appointed Chairman of the Board of Directors, effective January 1, 2024.
Furthering the Company's emphasis on promoting internal growth, Easterly also announced that its Board of Directors has appointed Meghan Baivier, Easterly's current Chief Financial Officer (CFO) and Chief Operating Officer (COO), to serve as the Company's President and COO. Allison Marino, Easterly's current Chief Accounting Officer (CAO), will assume the roles of CFO and CAO. Ms. Baivier will work closely with Ms. Marino on her transition into the role of CFO.
From the outset, Easterly Government Properties has worked closely with the General Services Administration (GSA) and the Veterans Administration (VA) to meet the needs and objectives of each tenant agency, and strives to be the partner of choice for the agencies with the most enduring missions, including the Federal Bureau of Investigation and the Drug Enforcement Administration.
Posted In: DEA
