"From a corporate governance standpoint, the CEO function should be separate from the chairman and vice chairman function," says Roskind in a statement.
A 15-year veteran of the company, Eglin most recently served as COO and president of Lexington. He joined the company in 1987 as vice president and helped see the firm through it's initial public offering in 1993.
Roskind notes Eglin "in many respects, functioned as CEO for the past several years while I have focused on developing our corporate strategies, and Dick Rouse has focused on our portfolio and joint venture acquisitions." He goes on to state that both he and Rouse will "continue to focus our energies in our respective areas."
Since Eglin joined the management ranks of Lexington, the company's shares have provided returns as high as 191% from dividends, and dividends per shares have increased annually, according to a Lexington statement. Market capitalization has also increased from about $200 million to more than $1 billion during the past 15 years.
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