The company's new executive offices are now on the 46th floor of Sears Tower, which Trizec Properties appeared ready to acquire in January but now may walk from its $70-million investment, which is in the form of a junior mortgage. "We have designated our Chicago offices as our principal executive offices," the company states on page 55 of its 60-page SEC filing.
Hanson opted not to relocate from 1114 Avenue of the Americas, according to the REIT, and will resign by the end of the year.
"Since I came on board at Trizec in August, I've been impressed with Greg's contributions," says president and chief executive officer Timothy H. Callahan, who took over Trizec Properties after resigning from similar posts at Equity Office Properties Trust, in a statement. "He has played a critical leadership role in launching Trizec as a publicly traded U.S. office REIT."
Treasurer Jeffrey Echt and chief accounting officer Joanne Ranger will take over the CFO functions while the company conducts a search for Hanson's successor, who could come from within the company, Callahan adds.
The REIT's most recent quarterly filing also discloses Callahan's predecessor, Christopher Mackenzie, got a $4.93-million severance from the company.
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