8-KLeadership ChangesExhibits & Filings

AVALONBAY COMMUNITIES INC 8-K Report, Executive Changes (Nov 20, 2013)

Filed November 20, 2013For Securities:AVB

Summary

This 8-K filing from AvalonBay Communities, Inc. (AVB) on November 20, 2013, primarily announces a significant executive transition. Thomas J. Sargeant, the Company's Chief Financial Officer (CFO), has decided to retire effective May 31, 2014. This marks the end of his tenure, and the company has prepared for this change by appointing a successor. Kevin P. O'Shea, currently the Executive Vice President of Capital Markets, will assume the role of CFO upon Mr. Sargeant's retirement. Mr. O'Shea brings a strong background in capital markets and real estate investment banking, having joined AvalonBay in 2003 and previously holding positions at UBS Investment Bank. This planned transition suggests a focus on internal succession and leveraging existing senior leadership's expertise.

Key Highlights

  • 1Chief Financial Officer (CFO), Thomas J. Sargeant, announced his retirement effective May 31, 2014.
  • 2Kevin P. O'Shea has been appointed as the new CFO, effective upon Mr. Sargeant's retirement.
  • 3Mr. O'Shea's prior role was Executive Vice President of Capital Markets.
  • 4Mr. O'Shea has been with AvalonBay Communities since July 2003.
  • 5His background includes real estate investment banking and legal experience.
  • 6The company has a planned succession for the CFO role.
  • 7A press release detailing the executive changes was issued on November 20, 2013, and filed as an exhibit.

Frequently Asked Questions

The primary purpose of this 8-K filing is to announce the upcoming retirement of AvalonBay Communities' Chief Financial Officer, Thomas J. Sargeant, and the appointment of Kevin P. O'Shea as his successor.

Thomas J. Sargeant's retirement is effective May 31, 2014. Kevin P. O'Shea will assume the CFO role on that date.

Kevin P. O'Shea has been with AvalonBay since 2003, most recently serving as Executive Vice President of Capital Markets. He has prior experience in real estate investment banking at UBS Investment Bank and a background in law. He holds an MBA from Harvard Business School.

This filing is focused on executive management changes and does not disclose new financial statements, results, or material financial guidance. The key information for investors relates to leadership continuity and succession planning.