Tyler Rose

Rose replaced prior chair Richard Ziman atop the $10 billion industrial real estate investment trust. He was the lead independent director and served on the board for a decade — after a 26-year-tenure at Kilroy Realty, where he was president and earlier, chief financial officer. 

Rose left Kilroy in 2023, months before it was announced that outsider Angela Aman would get the corner office once John B. Kilroy, Jr. retired.

But he came on top of Rexford’s latest leadership transition. After Elliott Investment Management built an active stake in Rexford, the company announced a succession plan. Laura Clark, chief operating officer, would replace co-founders and co-CEOs Howard Schwimmer and Michael Frankel. Rose said the “transition is the culmination of the board’s multi-year succession planning process,” but some believe the activist investor’s involvement sped up the timeline. 

Rose was untouched, and Clark, under his watch, is changing the capital allocation strategy: maximizing returns by selling assets and reinvesting that capital into high-yielding assets and share repurchases. During the latest earnings, the company said it had no planned purchases, only dispositions, a change from its buy-happy days.