Equity Residential (NYSE: EQR) today announced that Fred Tuomi, its Executive Vice President and President - Property Management, will retire from the company effective June 30, 2013. David Santee, the company’s Executive Vice President - Operations, will assume all of Mr. Tuomi’s responsibilities.
Mr. Tuomi, 57, joined Equity Residential in 1994 and since that time has led the company's property management organization through the tremendous expansion of the company's portfolio and is responsible for the day-to-day management of the company's portfolio of more than 119,000 apartment units. Mr. Tuomi began his career in the apartment industry in 1979.
“I join our more than 3,700 colleagues across the country in thanking Fred for his tremendous contributions to Equity Residential over the last 18 years,” said David J. Neithercut, Equity Residential’s President and CEO. “We will miss his passion for our company and his enthusiasm for our business and we wish him the very best.”
Mr. Santee, 53, has been the company's Executive Vice President - Operations since January 2007 and has worked in partnership with Mr. Tuomi in maximizing the performance of the company’s portfolio. In his current role, Mr. Santee is responsible for the company's Revenue, Marketing, Information Technology, Facilities and Procurement groups. Mr. Santee joined Equity Residential in 1994 and has served in various senior management roles in property operations and management including serving as Executive Vice President of the company's Eastern Division with responsibility for the day-to-day operations of 70,000 apartment units. Mr. Santee began his career in the apartment industry in 1983.Equity Residential is an S&P 500 company focused on the acquisition, development and management of high quality apartment properties in top U.S. growth markets. Equity Residential owns or has investments in 417 properties located in 14 states and the District of Columbia, consisting of 119,293 apartment units. For more information on Equity Residential, please visit our website at www.equityapartments.com.