Business

Highwoods Properties CEO to retire, led company for 15 years

Ed Fritsch, CEO of Highwoods Properties, shown here in a 2013 photo, is retiring Sept. 1.
Ed Fritsch, CEO of Highwoods Properties, shown here in a 2013 photo, is retiring Sept. 1. akenney@newsobserver.com

After 37 years at Highwoods Properties, CEO Ed Fritsch is retiring effective Sept. 1.

Fritsch led Highwoods Properties, a Raleigh-based real estate investment company, for 15 years. Ted Klinck, Highwoods’ president and chief operations officer, will take over the position.

Brendan Maiorana, former senior vice president, was promoted to executive vice president of finance and investor relations, and Brian Leary was hired as the executive vice president and chief operations officer.

Highwoods will not change its strategy with Fritsch’s departure, Maiorana said.

“I think I speak for everyone at the company when I say Ed will certainly be missed,” Maiorana said. “We’ll miss having him but I’m happy for him that he’s retiring on his own terms.”

Carlos Evans, chairman of Highwoods, said in a press release that Fritsch created a foundation for the company that is built to last.

“He first joined us in 1982 as a 23-year-old and it is no coincidence that Highwoods’ growth has tracked Ed’s growth,” Evans said.

Fritsch said in the press release that Klinck potentially succeeding him was part of his recruitment to the company in 2012, and the two have been working closely together since.

“I step aside after 37 years of service to Highwoods, fully confident the right team and platform are in place for Highwoods’ continued success,” Fritsch said.

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