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LOS ANGLES-Richard Gilchrist, who played a key role in taking Maguire Properties public as a REIT, has resigned effective Jan. 1 as an officer of the company and also has resigned from the company’s board, effective immediately. Gilchrist will serve as an adviser to Maguire for six months.

Maguire’s board has named hotel industry executive and professional sports team owner Lewis Wolff to fill Gilchrist’s vacancy on the board but has not named anyone as a new co-CEO. Wolff is co-founder of Wolff Urban Management and chairman of both the Maritz, Wolff & Co. hotel investment group and Sunstone Hotel Investors Inc.

Wolff has also held executive posts at a number of other prominent hotel companies. The new Maguire director bought the Oakland Athletics in April 2005 and is a former owner of the St. Louis Blues National hockey team and the Golden State Warriors basketball team.

Maguire says that Gilchrist, in his advisory role, will consult with the company primarily on its development activities. Rob Maguire, chairman and co-CEO, credited Gilchrist with being instrumental in taking the company public and in “implementing both our operational and growth strategies since our IPO in June 2003.”

Gilchrist is a former Maguire executive who returned to the company in 2002 specifically to help take the company public. He said that he has no immediate plans beyond the advisory role described in Maguire’s announcement.

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