CEO of Realty Income Corporation and Retired EVP of Logistics for Walmart bring commercial real estate and logistics/industrial facilities experience to nationwide industrial REIT
INDIANAPOLIS, Feb. 05, 2018 (GLOBE NEWSWIRE) -- Duke Realty Corporation (NYSE:DRE), the nation’s leading pure-play, domestic-only, industrial property REIT (Real Estate Investment Trust), announces that John Case and Chris Sultemeier have been named to its Board of Directors. Mr. Case is Chief Executive Officer and Director of Realty Income Corporation (NYSE:O), an S&P 500 company with more than 5,000 commercial net lease properties across the United States leased primarily to retail tenants. Mr. Sultemeier was Executive Vice President of Logistics for Walmart Stores, Inc. and President/Chief Executive Officer of Wal-Mart Transportation LLC before his retirement in May 2017.
“On behalf of the Board of Directors of Duke Realty, we are extremely happy that both John Case and Chris Sultemeier have joined our board,” said William Cavanaugh, Lead Director and former Chairman and Chief Executive Officer of Progress Energy. “John has been instrumental in quadrupling the size of Realty Income Corporation since he joined the company in 2010 and raising its enterprise value to more than $21 billion. While overseeing Walmart’s extensive domestic and international supply chain, Chris successfully improved service to retail stores and warehouses while reducing costs, doubled fleet efficiency within a 10-year span, and established a two-day ground ecommerce network in the United States over a two-year period.”
“I am excited to have John and Chris join our Board of Directors and believe that their guidance on our company’s strategic direction will prove invaluable,” said James B. Connor, Chairman and Chief Executive Officer of Duke Realty. “John’s background in commercial real estate and finance and Chris’ expertise in logistics and industrial facility use will provide us with new perspectives as we continue to build and strengthen our company.”
Prior to joining Realty Income Corporation, Mr. Case worked as a New York-based real estate investment banker for approximately 20 years where he was responsible for more than $100 billion in real estate capital markets and advisory transactions. He is extensively involved in the broader real estate industry, serving on the Executive Board of the National Association of Real Estate Investment Trusts (NAREIT) and the President’s Council of The Real Estate Roundtable. Mr. Case graduated from Washington and Lee University with a Bachelor of Arts degree in Economics and the Darden School of Business at The University of Virginia with a Master’s in Business Administration.
Mr. Sultemeier is a graduate of the U.S. Military Academy West Point with a Bachelor of Science degree in Mechanical Engineering. Upon graduation and commissioning, he attended the Army Airborne and Ranger Schools, as well as the Army Officer Engineer School. Mr. Sultemeier was a captain in the U.S. Army for five years and served as a Platoon Leader, Task Force Engineer and Company Executive Officer in the 1st Infantry Division. He currently serves on the Congressional Medal of Honor Foundation Board.
About Duke Realty
Duke Realty Corporation owns and operates approximately 146 million rentable square feet of industrial assets in 21 key U.S. logistics markets. Duke Realty is publicly traded on the NYSE under the symbol DRE and is listed on the S&P 500. The company maintains a Baa1 rating from Moody’s Investor Service and a BBB+ rating from Standard & Poor’s Financial Services. More information about Duke Realty Corporation is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook and YouTube.
Duke Realty Corporation
Source: Duke Realty Corporation