Associated Estates Appoints Douglas Crocker To Board - Quick Facts

(RTTNews) - Associated Estates Realty Corp. (AEC) Monday said it has appointed Douglas Crocker II, Chairman of Pearlmark Multifamily Partners and the former Vice Chairman and Chief Executive Officer of Equity Residential (EQR), to the Company's Board as an independent director, effective immediately.

The appointment of Crocker follows decision by Mark Milstein to retire from the Board.

Crocker will serve as Chairman of the Finance and Planning Committee of the Associated Estates Board, which, in consultation with the company's financial advisor, will conduct a thorough review of the firm's assets, operations and business strategy. He will also be included on the company's slate of directors to stand for election at the 2015 Annual Meeting of Shareholders.

The firm also announced initiation of a business review and significant enhancements to its corporate governance profile. It has engaged Citigroup Global Markets Inc. as a financial advisor to assist the Board in conducting a thorough review of the company's business.