BOSTON (AP) — Boston Properties said Monday that Owen Thomas will succeed real estate and media executive Mortimer B. Zuckerman as CEO as part of its succession plan.
The real estate investment trust said that Thomas, who is chairman of Lehman Brothers Holdings Inc., will also become a board member. The appointments are effective April 2.
Thomas, 51, also held various roles at Morgan Stanley. This includes serving as CEO of Morgan Stanley Asia Ltd. and president of Morgan Stanley Investment Management.
Zuckerman helped found Boston Properties Inc., which is one of the country's biggest office property owners. He is also its executive chairman and will stay on in that role. He took over as CEO of Boston Properties Inc. in 2010 after co-founder Ed Linde died.
Boston Properties develops, manages and owns a diverse portfolio of office space, a hotel, three residential properties and four retail properties. It is one of the biggest owners and developers of Class A office properties in the U.S. concentrated in markets including Boston, New York, Princeton, N.J., San Francisco and Washington, D.C.
Zuckerman is also well-known in the publishing world. He is the chairman and editor-in-chief of U.S. News & World Report and owner, chairman and publisher of New York's Daily News.
Boston Properties stock rose 55 cents to $103.44 in afternoon trading Monday. They have traded in a 52-week range of $98.92 to $117.