Griffin Capital REIT Director Resigns, Replacement Named
Timothy J. Rohner has resigned his positions as one of two independent members of the board of Griffin Capital Essential Asset REIT Inc., as well as his position as chair of the board’s audit committee.
Per the company, Rohner’s decision to resign was for health reasons and did not involve any disagreement with the company, its management or the board. He had been a member of the board since 2009.
Ranjit M. Kripalani, 57, was appointed to replace Rohner as an independent director, as well as chairman of the audit committee.
From 2009 to 2014, Kripalani served as the chief executive officer of CRT Capital Group LLC, an institutionally focused broker-dealer. Prior to joining CRT Capital Group, he worked at Countrywide Capital Markets, Inc. and Countrywide Financial Corporation from 1998 to 2008, where he served in several roles, including as president of capital markets and executive managing director of Countrywide Financial Corp. and chief executive officer and president of Countrywide Capital Markets from 2001 to 2008.
Kripalani also served as president and chief executive officer of Countrywide Securities Corporation from 2000 to 2008 and was the executive vice president and national sales manager for Countrywide Securities Corporation from 1998 to 2000. Prior to joining Countrywide, Kripalani served as managing director and head of mortgage trading for Chase Securities, Inc. from 1995 to 1998, and as managing director and head of mortgage trading for PaineWebber, Inc. from 1985 to 1995.
Kripalani also currently serves on the board of directors of Western Asset Mortgage Corp., a position he has held since 2014. He has a bachelor’s degree in international relations from Tufts University and a graduate diploma in business studies from the London School of Economics.
Griffin Capital Essential Asset REIT is a publicly-registered non-traded REIT sponsored by Griffin Capital Corporation. As of September 30, 2016, its portfolio consisted of 76 office and industrial distribution properties totaling 18.9 million rentable square feet, located in 20 states, representing total REIT capitalization of approximately $3.4 billion.
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