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WeWork CEO resigns; Digital Realty Trust chief accounting officer to retire

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WeWork CEO resigns; Digital Realty Trust chief accounting officer to retire

This feature presents a weekly rundown of recent significant management and board changes and personnel moves in the North American real estate industry, including U.S. real estate investment trusts and homebuilders.

C-suite changes

* Coworking giant WeWork Cos. Inc. co-founder Adam Neumann is stepping down as CEO but will stay on as nonexecutive chairman. The company named Artie Minson, formerly co-president and CFO, and Sebastian Gunningham, formerly vice chairman, as its co-CEOs. Separately, the co-head of WeWork's real estate investment fund, Wendy Silverstein, resigned.

* Melcor Real Estate Investment Trust appointed Darin Rayburn its new president and CEO to replace Andrew Melton, who will resign effective Oct. 1 but will remain on the company's board of trustees.

* Edward Sham is set to retire as chief accounting officer of Digital Realty Trust Inc., effective in March 2020.

* Toll Brothers Inc. appointed James Boyd and Robert Parahus as executive vice presidents and co-COOs, effective Nov. 1. Boyd and Parahus will replace President and COO Richard Hartman, who will retire Dec. 31.

* Choice Hotels International Inc. named Vikas Bhalla chief transformation officer.

* Data center REIT Equinix Inc. named Justin Dustzadeh chief technology officer.

* Americold Realty Trust appointed Khara Julien executive vice president and chief human resources officer.

* Sean Nakamoto and David Luu resigned as CEO and CFO, respectively, of Pine Trail REIT. The company named trustee Andrew Shapack CEO. Shapack who will also act as interim CFO until a replacement is found.

Board shuffle

* Playa Hotels & Resorts NV elected Peter Melhado as an interim nonexecutive director to succeed Richard Byles, who resigned recently.

* SungHwan Cho and Keith Cozza joined Voltari Corp.'s board, following the company's merger with Starfire Holding Corp. Peter Shea, Jaffrey Firestone, Kevin Lewis and Sachin Latawa resigned from the board, while Kenneth Goldmann and Peter Kaouris stepped down as the principal executive officer and chief accounting officer, respectively.

* Daily Burn Inc.'s CEO of fitness technology brand, Patricia Han, joined Empire State Realty Trust Inc.'s board, effective Sept. 25.

* Armada Hoffler Properties Inc. named Dorothy McAuliffe to its board, increasing the board size to nine members from eight.