Rexford Industrial Taps COO Laura Clark as Next CEO, Launches Portfolio Recalibration
Following engagement with Elliott, the REIT is pivoting to disciplined capital allocation with potential asset sales, stricter project hurdles and capital redeployment to boost returns.
Overview
- Laura Clark will become chief executive on April 1, 2026 and was appointed to the board effective Nov. 17, 2025.
- Co-founders Michael Frankel and Howard Schwimmer will leave their co-CEO roles on March 31, 2026 and remain directors until the 2026 annual meeting.
- Rexford began a portfolio review that includes evaluating sales of underperforming or fully valued properties and reassessing its development pipeline.
- The company set a near-term priority of programmatic dispositions to recycle capital into higher-yield repositioning projects and share repurchases, aiming to strengthen future cash flows.
- The leadership and strategy moves followed constructive talks with Elliott Investment Management, which took a stake in August, and the firm publicly endorsed the plan.