CHICAGO—Bruce W. Duncan has led First Industrial Realty Trust, Inc. as its president and chief executive officer for seven years, but says he plans to retire by year-end 2016. Officials of the Chicago-based owner, operator and developer of industrial properties say the board of directors will choose Duncan‘s successor and consider internal and external candidates for the position. The company has hired Korn Ferry, a global advisory firm, to assist in the search.

Duncan will still play a role at the company and has been appointed chairman of the board. Previous non-executive chairman Ed Tyler will continue to serve as a board member. The independent directors of the board appointed John Rau, the chair of the nominating and governance committee of the board, to the position of lead independent director. Rau has served as a director of First Industrial since 1994 and previously served as chief executive officer of LaSalle Bank and Chicago Title and Trust. He is currently president and chief executive officer of Chicago-based Miami Corp., a private asset management firm.

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