COPT completes CEO succession

COPTCorporate Office Properties Trust (“COPT” or the “Company”) announced on May 12 that it has completed its previously announced CEO succession. Effective May 12, Stephen Budorick has been appointed president and chief executive officer, succeeding Roger Waesche, Jr., and Waesche has also concluded his service as a trustee on Columbia, MD-based COPT’s Board. The Board of Trustees has appointed Budorick to a one-year term on the Board.

“I am proud of what we have achieved together during my tenure at COPT and grateful to have worked with so many talented individuals. I am excited to watch the Company continue to succeed with Steve at the helm,” said Waesche.

“On behalf of the Board of Trustees, I want to thank Roger for his extraordinary service over 30 years at the Company, including the last four as CEO,” stated Thomas Brady, chairman of COPT’s Board of Trustees. “Roger led COPT through substantial upgrades to its portfolio and balance sheet. We are grateful for his decades of contributions that have positioned COPT for long-term success.”

Budorick has served as COPT’s executive vice president and chief operating officer since September 2011. Prior to joining COPT, Budorick was executive vice president of asset management at Callahan Capital Partners and also served as executive vice president at Trizec Properties, Inc. and executive vice president in charge of third-party management and leasing at Miglin Beitler Management Company.

Source: COPT