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Equity Residential CEO to retire in December

David Neithercut retired from his position as president of Chicago-based multifamily real estate investment trust Equity Residential on Sept. 4 and will relinquish his CEO duties on Dec. 31.

Executive Vice President and CFO Mark Parrell was appointed as president, effective immediately, and will step in as CEO when Neithercut leaves in December.

Neithercut will remain a member of the company's board after he retires.

Robert Garechana, the senior vice president and treasurer of Equity Residential, was named Parrell's successor, beginning Sept. 4.