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April 1, 2004
John S. Moody is resigning from Equity Office Properties Trust Board of Trustees, and Warren E. "Ned" Spieker Jr., Jerry M. Reinsdorf and William Wilson III have chosen not to stand for re-election. Moody and Spieker say they will pursue interests in other commercial real estate ventures. Moody is president and CEO of HRO Asset Management, which he said will focus on office buildings in the U.S. for Commerzbank's real estate arm. Spieker said future business investments could create the perception of conflict in serving on the Equity board, though he plans to retain "significant EOP ownership interests." Reinsdorf and Wilson say they are reducing their external commitments to pursue other interests. Equity is the nation's largest publicly held office building owner and manager, and the largest commercial landlord in the Puget Sound region.