"This has been something that has been in the works for a while," Knight, 47, tells GlobeSt.com. "Bill had a three-year succession plan that was going to wrap up this year. This is something that is not really directly related to our restructuring plan; we are still in the middle of that restructuring process. Bill just decided this was as good of time as any to move upstairs."

Knight tells GlobeSt.com that he probably will drop the chief operating officer title, although they won't hire anyone to be the company's new COO. "We're not bringing anybody new on board at this point, as we are getting through the restructuring," he tells GlobeSt.com. The restructuring could involve a sale or a merger with another company.

Atkins owns 270,641 shares of AmeriVest, according to the company's latest SEC filing. He says the transition has been in the planning for more than two years. "I have worked closely with Charlie Knight for the last seven years and know the company goes forward in very capable hands," he says. "Although the company is experiencing some growing pains, its foundation remains solid and its strategy sound. With this change, AmeriVest is well positioned for the future."

Atkins adds that he does not expect the change in leadership to have a negative impact on the company's business or operations or its relationship with its customers and employees. Knight has been an officer and a director of the company since December 1999, and has been president and chief operating officer since October 2000. Previously, Knight served as vice president and a member of Sheridan Development LLC, vice president of Public Storage Inc., a publicly traded REIT, and vice president and General Counsel of Cardis Corp. a publicly traded automotive parts distributor.