JACKSON — Parkway Properties, Inc. (NYSE: PKY) announced Friday that Steven G. Rogers has resigned as President, Chief Executive Officer and director effective December 31, 2011. Mr. Rogers will continue in his current roles until year end, and during this period will transition his leadership responsibilities to James R. Heistand, current Executive Chairman. Heistand will become acting CEO effective January 1, 2012.
In a statement released by Parkway, Rogers is credited with saying, “It was with mixed emotions that I decided to transition away from Parkway. The past 18 years I have served as President of the Company have been the most rewarding professionally and personally in my life. Having the opportunity to work with great people every day for over 25 years has indeed been a blessing for which I am forever grateful. I believe I leave the Company in great hands with the current management team under the leadership of Jim Heistand and our Board of Directors. I look forward to working with Jim and our senior team over the next few months to implement an orderly transition.”
Leland R. Speed, Chairman Emeritus, who served as Chairman of the Board from 1980 until earlier this year, commented, “I have had the pleasure of watching Steve grow and develop since he joined the Company in 1983, and I am pleased that Steve and his family will have more time to enjoy the fruits of his dedicated work. I am very pleased with our accomplishments this year, the direction the Company is taking, and the depth of the management team we recently added as part of the Eola combination.”
Heistand stated, “Steve has demonstrated strong leadership and selfless commitment to Parkway and our industry for nearly three decades and we will miss his talents. We intend to build on the foundation created during Steve’s leadership, with the goal of making Parkway the premier office REIT in the markets in which we intend to focus.”