AvalonBay CFO Thomas Sargeant To Retire; Kevin O'Shea Named Successor

(RTTNews) - AvalonBay Communities, Inc. (AVB) said Wednesday that its Chief Financial Officer, Thomas Sargeant, plans to retire from the company effective May 31, 2014.

Sargeant, 54, has been with the company, including its predecessors, for 28 years and has served as Chief Financial Officer for the past 19 years. The company also said that its Board has appointed Kevin O'Shea, the company's Executive Vice President of Capital Markets, to succeed Sargeant as Chief Financial Officer, effective upon Sargeant's retirement.

O'Shea, 48, joined AvalonBay in 2003 to establish the Company's investment management fund platform. Before joining AvalonBay, O'Shea's professional experience included REIT investment banking.