By Kate Snyder
Alexandria Real Estate Equities recently experienced another change in leadership with the resignation of the firm’s president and chief financial officer. On Aug.16, Dean A. Shigenaga submitted his resignation from all of his positions with the company and its subsidiaries for personal family health reasons, according to a U.S. Securities and Exchange Commission filing. Shigenaga’s resignation is effective Sept. 15. Following the effectiveness of his resignation, it is expected that he will continue to assist the company with transitional matters and ongoing as a strategic consultant.
Shigenaga had served as president since January 2021 and CFO since December 2004, and had been employed by Alexandria in various positions since 2000.
The day after Shigenaga submitted his resignation, the board of directors elected Marc E. Binda as CFO and treasurer, effective Sept. 15, according to the filing. Since joining the company in 2005, Binda, 47, has served in a variety of positions of increasing responsibility within the finance and accounting functions. Most recently, he served as executive vice president – finance & treasurer since June 2019 and previously served as senior vice president – finance & treasurer since April 2018. He currently oversees the company’s treasury strategies and risk management, balance sheet management, financial projections, capital planning, debt financing and other capital market transactions and provides business and technical advice on real estate, joint venture and leasing transactions.
Prior to joining Alexandria, Binda was a financial reporting manager at Watt Centro Management JV, LP, where he was responsible for accounting, finance and treasury matters, REIT compliance, debt compliance and U.S. and Australian GAAP reporting. Prior to joining Watt, Binda was a manager in Ernst & Young LLP’s real estate advisory business services group, where he served three publicly traded REITs and other public and private companies. Binda is a certified public accountant and received his bachelor of science degree in accounting from California Lutheran University.
Last year, Alexandria saw a similar change in leadership when its co-CEO resigned. According to a U.S. Securities and Exchange Commission filing published in July 2022, Stephen A. Richardson tendered his resignation to all of his positions with the company and its subsidiaries, effective July 31, 2022. He notified Alexandria of his intent to retire from full-time employment and his professional career for family and personal reasons, the filing stated. He was originally appointed to the role in 2018.