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CHICAGO-Already in line to become chief executive officer Jan. 2, David J. Neithercut has taken over as president of Equity Residential. He replaces Bruce W. Duncan, who retires Jan. 2.

Neithercut has been executive vice president of corporate strategy. Duncan credits Neithercut with playing a key role in the company’s sale of $2.7 billion in assets in favor of markets it considers to have high barriers to entry. Neithercut, who joined the multifamily REIT in 1995, was chief financial officer until August 2004.

Duncan will remain on Equity Residential’s board of directors, having been re-elected along with John W. Alexander, Charles L. Atwood, Stephen O. Evans, James D. Harper, Jr., Boone A. Knox, Desiree G. Rogers, Sheli Z. Rosenberg, Gerald A. Spector, B. Joseph White and chairman Samuel Zell. Their re-election was by a 98% margin at the company’s recent annual meeting, when Ernst & Young LLP was retained as auditor.

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