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Alexandria Real Estate Equities names executive chairman, co-CEOs

The board of Alexandria Real Estate Equities Inc. promoted Joel Marcus, chairman, CEO and founder, to full-time executive chairman.

Marcus will continue to lead the company's venture investment activity, life science ecosystem development and growth, thought leadership platform and corporate responsibility initiatives, the company said in a March 22 release.

The urban office-focused real estate investment trust tapped COO Stephen Richardson and Chief Investment Officer Peter Moglia to serve as co-CEOs of the company.

The new appointees will report to Marcus and the board of directors. Moglia leads the company's real estate finance team and will continue working as chief investment officer.

The company made other executive-level changes recently, including the appointment of two new co-COOs and two new co-presidents.

All the appointments are effective April 23.