Retired Wells Fargo Vice Chair Paul Watson Named Chairman of the Board
Maguire Properties, Inc. (NYSE: MPG), a Southern California-focused real
estate investment trust, today announced that, at its Annual Meeting
held today, the Company’s shareholders voted to elect its seven
Director-nominees, Christine N. Garvey, Michael J. Gillfillan, Nelson C.
Rising, Joseph P. Sullivan, George A. Vandeman, Paul M. Watson, and
David L. Weinstein for a one-year term each. As previously announced,
Jonathan M. Brooks and Cyrus S. Hadidi chose not to stand for
re-election to the Board.
Nelson Rising, Maguire’s President and Chief Executive Officer, said,
“Both Jon and Cyrus have made significant contributions during their
time on the Board. We very much thank them for their dedicated service
on behalf of Maguire Properties and wish them continued success.”
The Company also announced that Mr. Watson has been designated as
Chairman of the Board, succeeding Mr. Vandeman. Mr. Vandeman was
appointed Chair of the Board’s Nominating & Governance Committee. In
addition, Ms. Garvey has been appointed Chair of the Compensation
Committee, and Mr. Gillfillan has been appointed Chair of the Audit
Committee. The Company also announced the establishment of a Finance
Committee and appointed Mr. Sullivan as Chair.
Mr. Rising commented, “The Company has benefited from the active
participation and counsel of its outstanding Board and we look forward
to further contributions in their varied and new roles.”
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Christine N. Garvey has served on the Board
since July 2008. Ms. Garvey retired from Deutsche Bank AG in May 2004,
where she served as Global Head of Corporate Real Estate Services from
May 2001. From December 1999 to April 2001, Ms. Garvey served as Vice
President, Worldwide Real Estate and Workplace Resources for Cisco
Systems, Inc. During her career, Ms. Garvey also held several
positions with Bank of America, including Group Executive Vice
President and Head of National Commercial Real Estate Services.
Ms. Garvey holds a Bachelor of Arts degree, magna cum laude,
from Immaculate Heart College in Los Angeles and a Juris Doctor from
Suffolk University Law School. She is currently a member of the board
of directors of ProLogis and HCP, Inc. She also served on the board of
directors of both UnionBanCal Corporation and Hilton Hotels
Corporation until the respective companies were taken private.
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Michael J. Gillfillan has served on the Board since May
2009. Since December 2002, Mr. Gillfillan has been a partner of
Meriturn Partners, LLC, a private equity fund that purchases
controlling interests in distressed middle market manufacturing and
distribution companies. From March 2000 to January 2002, Mr.
Gillfillan was a partner of Neveric, LLC. Mr. Gillfillan is the
retired Vice Chairman and Chief Credit Officer of Wells Fargo Bank,
N.A., where he was responsible for all facets of credit risk
management, including direct oversight of the loan workout units that
had peak problem assets in excess of $7 billion. During his tenure at
Wells Fargo Bank, he also served as Vice Chairman and Group Head of
the Commercial & Corporate Banking Group and Executive Vice President,
Loan Adjustment Group, where he was responsible for marketing and
servicing all bank loans, deposits and capital market products, as
well as managing the loan workout function for the bank. Mr.
Gillfillan holds a Bachelor of Arts degree from the University of
California, Berkeley and a Master of Business Administration from the
University of California, Los Angeles.
