Kilroy Realty CEO John B. Kilroy, Jr. announces retirement as of year-end

John B. Kilroy, Jr., Chief Executive Officer and Chairman of the Board of Directors of Kilroy Realty Corporation announced his retirement as Chief Executive Officer effective as of the end of the year. The Company’s Board of Directors intends to retain a leading executive search firm to assist in a comprehensive search for the Company’s next Chief Executive Officer, which will include internal candidates and external candidates, with a targeted start date of January 1. "After almost 30 years as CEO of Kilroy and 50 years in this business, I have decided to retire at the end of this year. We have assembled the greatest team in the business at Kilroy, and together we have built a unique portfolio of premium, state-of-the-art work environments spanning some of the country’s strongest markets – in Austin, Texas and on the West Coast, from Seattle to San Diego," said Mr. Kilroy. "I am confident that Kilroy is positioned for future success and that now is the right time to begin a transition to new leadership. As a member of the Succession Planning Committee, I will work with the Board on the search for my successor, and we will remain committed to our strategy, focusing on our three core tenets – best-in-class real estate, disciplined capital allocation and a fortress balance sheet – to deliver value for our stockholders. I am confident that our outstanding team will continue to thrive in this historically turbulent market."