The succession plan called for Crocker to stay on through the end of the year, then turning over the CEO reins to Duncan.
While stepping away from the day-to-day operations of Equity Residential Properties after a 10-year run, Crocker is not going into complete retirement. Besides staying on as vice chairman of Sam Zell's multifamily REIT, Crocker was named to the Prime Group Realty Trust board this year.
"Doug's leadership, vision and drive have made Equity Residential the paradigm of the multifamily industry," Zell says in a statement.
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