GlobeSt.com UPDATE: Callahan Resignation May Impact EOP Stock

NEW YORK CITY-Bear Stearns says the resignation of Timothy H. Callahan from Equity Office Properties Trust may have a short-term impact on that company's stock price, but claims that it will not affect EOP's mid- to long-term prospects. As a result, Bear Stearns will not change its stock valuation of the company.

By Michael Gilliard | April 19, 2002 at 01:01 AM

Stearns claims the departure will not interrupt EOP operations. "We believe the mid- to longer-term prospects for EOP remain unchanged," states the company. "As such, and without underestimating Mr. Callahan's role in the company, we do not expect a short term interruption in the Company's operations." Callahan will continue to consult with EOP during the interim period.

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