OAK BROOK, IL-Late night television is not the only arena where promotions are being lined up in advance. CenterPoint Properties Trust, the largest industrial property owner in the market, has handed out promotions to four top executives, with Michael M. Mullen set to become chief executive officer.

Mullen will replace John S. Gates, Jr., who remains co-chairman of the company and will focus on corporate strategy and capital allocation. “I expect to spend about a third of my time on CenterPoint activities,” Gates explains. “This will afford me the opportunity to devote more of my energies to community, charitable and personal endeavors.”

Currently president and chief operating officer, Mullen will relinquish the former role to chief financial officer Paul S. Fisher. Although Fisher will be responsible for overseeing operations of the REIT’s 38-million-sf portfolio, senior vice president of investments James N. Clewlow becomes chief investment officer.

“While the ‘batting order’ has changed, our team, our focus and our strategies have not,” Mullen says. “”No one–John included–is leaving. Rather, we are simply reallocating our duties.”

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