8-KLeadership Changes

AVALONBAY COMMUNITIES INC 8-K Report, Executive Changes (Jul 14, 2009)

Filed July 14, 2009For Securities:AVB

Summary

This 8-K filing from AvalonBay Communities, Inc. (AVB) reports a change in its principal accounting officer, effective July 13, 2009. Keri A. Shea, previously Vice President-Finance and Treasurer, has been designated as the Company's principal accounting officer. She will continue to oversee all accounting operations, including financial reporting and cash management. This change is significant as it clarifies reporting responsibilities within the finance department. While Mr. Thomas J. Sargeant, the Chief Financial Officer, retains his role as the principal financial officer, Ms. Shea's appointment as principal accounting officer ensures dedicated oversight of the company's accounting functions. Investors should note Ms. Shea's background, including her experience with Arthur Andersen LLP and her CPA certification, which suggest a strong foundation in accounting principles and financial reporting.

Key Highlights

  • 1Keri A. Shea appointed as Principal Accounting Officer, effective July 13, 2009.
  • 2Ms. Shea continues in her role as Vice President-Finance and Treasurer.
  • 3Thomas J. Sargeant remains as Chief Financial Officer and Principal Financial Officer.
  • 4Ms. Shea will oversee all accounting operations, including financial reporting and cash management.
  • 5Ms. Shea joined AvalonBay in 2002 and has held roles as Assistant Corporate Controller and Corporate Controller.
  • 6Ms. Shea possesses significant prior experience with Arthur Andersen LLP and is a Certified Public Accountant (CPA).

Frequently Asked Questions

Keri A. Shea has been appointed as the Principal Accounting Officer, effective July 13, 2009. She also continues to serve as Vice President-Finance and Treasurer.

The Principal Accounting Officer is responsible for overseeing all of the Company's accounting operations, including its financial reporting and cash management functions.

No, Thomas J. Sargeant continues to serve as the Company's Chief Financial Officer and Principal Financial Officer. He previously served as both the principal accounting and financial officer.

Ms. Shea joined AvalonBay in 2002 and has held positions including Assistant Corporate Controller and Corporate Controller. She has eight years of experience with Arthur Andersen LLP and is a Certified Public Accountant (CPA).