"It's been a fabulous run," says Suydam, "They've just been a wonderful company to work for." Suydam is among six regional senior vice presidents whose positions were eliminated. The Chicago-based company is in a reorganization plan to realign its management structure with the reduced size of its portfolio, a spokeswoman for Equity tells GlobeSt.com.
Equity sold off $5 billion in assets in the last five years and plans to cut its portfolio by another $2 billion more within the next six to 12 months, the spokeswoman says.
"The reality is we've been taking advantage of this strong asset sale environment to pare down our portfolio to the best assets in the best markets and the reorganization is a reflection of that," she adds.
Glenn Verrette, vice president of leasing for Equity's Boston office, and Karen Baker, vice president of operations in Boston, will assume Suydam's duties following her departure.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
