Board of Directors

Glyn F. Aeppel

CEO & President Glencove Capital

Director since: 2013

Professional background:
Ms. Aeppel has more than 35 years of experience in property acquisitions, development and financing. She established a hotel investment and advisory company, Glencove Capital, in 2010, and serves as its President and Chief Executive Officer. From 2008 to 2010, Ms. Aeppel served as Chief Investment Officer of Andre Balazs Properties, an owner, developer and operator of luxury hotels. From 2006 to 2008, she served as Executive Vice President of Acquisitions and Development for Loews Hotels and as a member of its Executive Committee. From 2004 to 2006, she was a principal of Aeppel and Associates, a hospitality advisory development company, during which time she assisted Fairmont Hotels and Resorts in expanding in the United States and Europe. Earlier in her career, Ms. Aeppel held executive positions with Le Meridien Hotels, Interstate Hotels and Resorts, Inc., FFC Hospitality, LLC, Holiday Inn Worldwide and Marriott Corporation.

Other affiliations:
Ms. Aeppel serves on the boards of three private companies: Exclusive Resorts, Gilbane, Inc. and Concord Hospitality Enterprises.

Education:
B.A., Honors, Principia College
Master of Business Administration, Harvard Business School

Other public company boards:
Simon Property Group, Inc. (since 2016)
Maui Land and Pineapple Company (since 2022)

Terry S. Brown

Lead Independent Director

Director since: 2015

Professional background:
Mr. Brown is a Co-Founder and Managing Partner of Asana Partners, a private real estate investment company, which he helped found in 2015. Prior to that he was Chairman and Chief Executive Officer of EDENS, one of the country’s leading private owners, operators and developers of retail real estate. Mr. Brown joined EDENS as its Chief Executive Officer in 2002 after serving as Chief Executive Officer of Andersen Corporate Finance LLC (a NASD broker-dealer subsidiary of Arthur Andersen LLP), where he was responsible for strategy and investment banking activities on a global basis across the real estate, manufacturing, technology, services and energy industries.

Education:
Bachelor of Business Administration, University of Georgia, summa cum laude

Ronald L. Havner Jr.

Non-Executive Chairman of the Board Public Storage, Inc.

Director since: 2014

Professional background:
Mr. Havner serves as the non-executive Chairman of the Board of Public Storage, a publicly traded self-storage facility real estate investment trust (“REIT”). Mr. Havner was the Chief Executive Officer of Public Storage for 16 years, until he retired from that role in 2018, and he has served as Chairman of the Board of Public Storage since 2011. From 2018 until 2023, Mr. Havner served as the non-executive Chairman of Shurgard Self-Storage, SA., where he is currently chairman emeritus and a consultant.

Other affiliations:
Mr. Havner is a previous Chairman of the Board of Governors of the National Association of Real Estate Investment Trusts (“Nareit”).

Education:
B.A. in Economics, University of California, Los Angeles

Other public company boards:
Public Storage (since 2002)

Stephen P. Hills

Founding Director, Business Law Scholars Program Georgetown University Law Center

Director since: 2017

Professional background:
Mr. Hills joined the Georgetown University Law Center in 2016 as the Founding Director of the law school’s Business Law Scholars Program. Prior to joining Georgetown Law, Mr. Hills worked for 28 years with The Washington Post, where he had served since 2002 as President and General Manager.

Education:
B.A., Yale University
Master of Business Administration, Harvard Business School

Christopher B. Howard

Executive Vice President & COO of Arizona State University

Director since: 2021

Professional background:
Dr. Howard has served as the Executive Vice President and Chief Operating Officer of Arizona State University since February 2022. Prior to that he served as the President of Robert Morris University (PA) from 2016 until January 2022. Before he was appointed to that position, Dr. Howard had been, since 2010, the President of Hampden-Sydney College and, before that, he served as Vice President for Leadership and Strategic Initiatives at the University of Oklahoma. Dr. Howard’s experience includes service in the military (he earned a Bronze Star for his service in Afghanistan in 2003) and in the private sector (he worked in a variety of capacities at both General Electric and Bristol-Myers Squibb).

Other affiliations:
Dr. Howard serves and has served as a board member or trustee of a number of non-profits, including organizations focused on education and career advancement for military personnel and underprivileged youth.

Education:
Distinguished Graduate of the U.S. Air Force Academy
D.Phil in Politics, University of Oxford, Rhodes Scholar
Master of Business Administration, Harvard Business School, with Distinction

Richard J. Lieb

Former Executive at Greenhill & Co., LLC

Director since: 2016

Professional background:
Mr. Lieb retired from Greenhill & Co., LLC, a publicly traded investment bank, in July 2023. Prior to his retirement, he served at Greenhill as a Senior Advisor since January 2019 and before that Mr. Lieb served in several senior positions, including as Head of the Real Estate, Gaming and Lodging Group from 2012 to January 2019 and Chief Financial Officer from 2008 to 2012. Prior to joining Greenhill in 2005, Mr. Lieb spent more than 20 years with Goldman, Sachs & Co., where he headed the Real Estate Investment Banking Department from 2000 to 2005. Mr. Lieb previously served as a director of CBL and Associates Properties from February 2016 until November 2021, and as a director of Vereit, Inc. from February 2017 until November 2021.

Education:
B.A., Wesleyan University
Master of Business Administration, Harvard Business School

Other public company boards:
Orion Office REIT (since 2021)
Star Holdings (since 2019)

Nnenna Lynch

Founder & CEO of Xylem Projects

Director since: 2021

Professional background:
Ms. Lynch founded Xylem Projects, a real estate development venture focused on creating mixed-use projects that serve residents and neighborhoods, in 2018, and serves as Xylem’s Chief Executive Officer. Prior to founding Xylem Projects, Ms. Lynch was Head of Development at The Georgetown Company, a real estate investment and development company that she joined in 2014. Earlier in her career, Ms. Lynch served for six years as a Senior Policy Advisor in the Bloomberg mayoral administration in New York City where, among other duties, she led initiatives that resulted in the redevelopment and construction of new housing and commercial spaces. In both the private sector and as a public employee, Ms. Lynch helped to plan and create affordable housing in New York City.

Other affiliations:
Ms. Lynch is Chair of the Board of Directors of New York Road Runners, a non-profit organization that coordinates the New York City Marathon and other races.  She serves as a board member or trustee of a number of other non-profits, including the Van Alen Institute, which focuses on helping create equitable cities through inclusive design. She also serves on the Board of Trustees of Villanova University, where she serves on the Investment Committee, and the board of directors of Stake Network, a private company.

Education:
B.A., Villanova University
Master’s degree in Social Anthropology, University of Oxford, Rhodes Scholar

Other public company boards:
Blackstone Mortgage Trust, Inc. (since 2021)

Charles E. Mueller Jr.

Private Investor

Director since: 2022

Professional background:
Mr. Mueller retired in October 2021 from full-time executive leadership positions after serving, since May 2018, as Chief Executive Officer at Progress Residential, one of the largest providers of single-family rental homes in the United States. Mr. Mueller remained as an employee and advisor to Progress Residential from October 2021 to March 2022. From 2015 to 2017, Mr. Mueller was President of Irvine Company Apartment Communities, an owner and operator of apartment communities across coastal California. From 2013 to 2015, Mr. Mueller was President and Chief Executive Officer of ConAm Management Corporation, a multifamily real estate investment and property management firm. From 1994 to 2013, Mr. Mueller held several positions with Archstone and its predecessors (collectively “Archstone”), including President, Chief Operating Officer and Chief Financial Officer. Prior to Archstone going private in 2007, it was one of the largest publicly traded multifamily REITs in the United States.

Other affiliations:
Mr. Mueller serves on the board of several private and non-profit entities.

Education:
B.A. University of Texas at Austin
Master of Business Administration, Southern Methodist University

Timothy J. Naughton

Chairman of the Board

Director since: 2005

Professional background:
Mr. Naughton is AvalonBay’s Chairman of the Board. He served as Executive Chairman of the Board throughout 2022, as Chief Executive Officer from 2012 until January 2022, and as President from 2005 until January 2021. Mr. Naughton has served as the Company’s Chairman of the Board since 2013. Mr. Naughton’s prior roles at AvalonBay included Chief Operating Officer, Chief Investment Officer, and Regional Vice President – Development and Acquisitions. Mr. Naughton has been with AvalonBay and its predecessors since 1989. Mr. Naughton previously served as a director of Welltower, Inc. from 2013 until 2019.

Other affiliations:
Mr. Naughton is a former Chairman of Nareit, a member of The Real Estate Round Table and a member and past chairman of the Multifamily Council of the Urban Land Institute (“ULI”). Mr. Naughton serves as a senior advisor to Navitas Capital, a property technology early stage venture capital firm, and Energy Impact Partners, a climate technology venture capital firm. He sits on the board of the Jefferson Scholars Foundation at the University of Virginia and is a member of the advisory board of the school’s White Ruffin Byron Center for Real Estate. 

Education:
B.A., University of Virginia, Phi Beta Kappa
Master of Business Administration, Harvard Business School

Other public company boards:
Park Hotels and Resorts, Inc. (since 2017)
Boston Properties, Inc. (since 2024)

Benjamin W. Schall

CEO & President

Director since: 2021

Professional background:
Mr. Schall joined the Company as President and a director in January 2021, and became Chief Executive Officer effective January 3, 2022. Before joining the Company, Mr. Schall was the Chief Executive Officer and President and a trustee of Seritage Growth Properties, a publicly traded REIT principally engaged in owning, developing and managing a diversified portfolio of retail and mixed-use properties throughout the United States. Earlier in his career, Mr. Schall served as Chief Operating Officer of Rouse Properties, Inc., a publicly traded mall and retail REIT (since acquired) from 2012 to 2015, and as Senior Vice President of Vornado Realty Trust, a publicly traded REIT that owns, manages and develops office and retail assets, before that.

Other affiliations:
Mr. Schall is a member of the Executive Board of Nareit, an Executive Committee member of the National Multifamily Housing Council (“NMHC”), and a member of The Real Estate Roundtable. He serves as Co-Chair of the Board of University Settlement, a non-profit service provider in New York City.

Education:
B.A., Swarthmore College
Master of Business Administration, Harvard Business School

Susan Swanezy

Former Partner at Hodes Weill & Associates, LP

Director since: 2016

Professional background:
Ms. Swanezy was a partner from 2010 until March 2024 at Hodes Weill & Associates L.P., a global advisory firm focused on the real estate investment management industry. Prior to that, Ms. Swanezy served as Managing Director, Global Head of Capital Raising for Real Estate Products at Credit Suisse Group AG. She also held a variety of positions at Deutsche Bank AG and its affiliates, including Partner and Managing Director – Client Relations for RREEF, the real estate investment management business of Deutsche Bank’s Asset Management division. In addition to her real estate experience, Ms. Swanezy brings a deep network of relationships and knowledge of both the public and private capital markets.

Education:
B.S., Georgetown University School of Foreign Service