Major B’more REIT Completes CEO Succession

Following the May 2016 COPT annual meeting of shareholders, Stephen Budorick officially became the REIT’s president & CEO, as announced three months prior.
Stephen Budorick, president & CEO, COPT

Stephen Budorick, president & CEO, COPT

Baltimore—Columbia, Md.-based real estate investment trust Corporate Office Properties Trust (COPT) recently completed its CEO succession process announced earlier this year.

On February 12, COPT announced that 33-year industry veteran Stephen Budorick was due to replace Roger Waesche as president & CEO, effective after the company’s May 2016 annual shareholders meeting. COPT recently followed-up announcing that, effective mid-May, Waesche has concluded his service as president, CEO & trustee. At the same time, the trustees have appointed Budorick to a one-year term on the board.

Prior to his appointment, Budorick served as COPT’s EVP & COO for five years. Before joining the Maryland-headquartered REIT, he was EVP of asset management with Callahan Capital Partners, and also served as EVP of Trizec Properties and EVP in charge of third-party management and leasing with Miglin Beitler Management Company. Earlier in his career, he went through stints with LaSalle Partners and American Hospital Association.

The new CEO holds a Bachelor of Science degree in industrial engineering from the University of Illinois at Urbana-Champaign and an MBA in finance from the University of Chicago.

Image courtesy of COPT