BIRMINGHAM, AL-Long-time Colonial Properties Trust executive C. Reynolds Thompson III has resigned from his positions as president and CFO of the company, effective Dec. 31. Thompson’s plans are to remain with the company through Jan. 31 to assist with the transition.
According to a press release from the REIT, Thompson will provide certain consulting services to the company during 2013. In the meantime, Bradley P. Sandidge, the company’s EVP, accounting, will assume the role of interim CFO while Colonial conducts a search for a permanent CFO.
Thompson joined Colonial Properties in 1997 and has served in a variety of positions including CEO, COO, EVP of the Office Division, SVP of Office Acquisitions and as a trustee. Sandidge, in the meantime, came on board in 2004 as SVP, multifamily accounting and finance and served in that position until January, 2009. At that time, he was promoted to EVP of accounting.
“We greatly appreciate the many contributions that Reynolds has made to our company and thank him for his 15 years of dedicated service,” says Thomas H. Lowder, Colonial Properties’ chairman of the board and CEO in a press release. “We are confident in Mr. Sandidge’s ability to assume this increased role and to support our company as we transition to a new Chief Financial Officer.”