Arden Realty, Inc. Announces Resignation of Director Kenneth B. Roath.Business Editors LOS ANGELES--(BUSINESS WIRE)--Feb. 21, 2003 Arden Realty Inc. (NYSE NYSE See: New York Stock Exchange :ARI ARI Acute respiratory infection, see there ) announced today that Kenneth B. Roath has submitted his resignation as a member of the board of directors. Roath, who is Chairman and Chief Executive Officer of Health Care Property Investors, Inc. in Newport Beach Newport Beach, residential and resort city (1990 pop. 66,643), Orange co., S Calif., on Newport Bay and the Pacific Ocean; inc. 1906. It is a popular seaside resort and yachting center. Manufactures include electrical and medical equipment, computers, boats, and adhesives. , advised the board that his resignation reflects his overall decision to reduce his business commitments, underscored, in part, by his recent announcement of his own succession plan at Health Care Property Investors. "I have thoroughly enjoyed serving on Arden's board these past several years," stated Roath. "They have an outstanding management team in place, and I will continue to be interested in the company's ongoing business strategies." "Ken has been an excellent board member and an exceptional advisor to the company," stated Richard S. Ziman, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Arden Realty. "He has given valuable input during Arden's transformation into a public company and our substantial growth over the years. His counsel, as well as his friendship, will always be valued." About Arden Realty Inc. Arden Realty, Inc. is a self-administered, self-managed REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). that owns, manages, leases, develops, renovates and acquires commercial office properties located in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, . Arden is the largest publicly-traded office landlord in Southern California, with 137 properties, consisting of 223 buildings and approximately 19.4 million net rentable square feet of office space, including one property with 283,000 square feet under lease-up. For more information on the company, visit the Arden website at http://www.ardenrealty.com. This announcement may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include the national and Southern California economic climate, Southern California real estate conditions, the perceptions of prospective tenants of the attractiveness of our properties, our ability to manage and maintain our properties and secure adequate insurance, potential increases in operating costs operating costs npl → gastos mpl operacionales (including real estate taxes and utilities), changes in applicable laws (including tax laws), interest rate levels, and the availability of financing. For a further list and description of such risks and uncertainties, see the reports filed by the Company with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. |
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