Post Properties (PPS) Announces Departure of Wilkes; Teabo and Konas to Assume Duties
PPS Hot Sheet
Overall Analyst Rating:NEUTRAL (= Flat)
Dividend Yield: 1.9%
Revenue Growth %: -100.0%
Post Properties, Inc. (NYSE: PPS) announced today that, as part of an overall restructuring intended to streamline its business and reduce costs, Thomas L. Wilkes, President of Post Apartment Management and EVP of Post Properties, Inc., will leave the Company, effective December 31, 2009.
Mr. Wilkes' responsibilities will be assumed by S. Jamie Teabo, SVP Property Management, and Charles A. Konas, EVP Construction/ Development. Both Ms. Teabo and Mr. Konas have substantial industry and company experience. Post expects to incur a charge in the fourth quarter related to settling its contractual obligations with Mr. Wilkes and in connection with the overall restructuring.
Mr. Wilkes' responsibilities will be assumed by S. Jamie Teabo, SVP Property Management, and Charles A. Konas, EVP Construction/ Development. Both Ms. Teabo and Mr. Konas have substantial industry and company experience. Post expects to incur a charge in the fourth quarter related to settling its contractual obligations with Mr. Wilkes and in connection with the overall restructuring.
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