Boston Properties CEO succession plan has Owen Thomas succeeding Mort Zuckerman

Real estate investment trust Boston Properties Inc. said Monday that Owen D. Thomas will succeed Mortimer B. Zuckerman as chief executive, effective April 2.

Mortimer Zuckerman. Photo taken from Boston Properties website.

Zuckerman will remain as executive Chairman and return to his original role in company activities, Boston Properties said in a press release.

Thomas, 51, is currently the chairman of the Board of Lehman Brothers Holdings Inc., the successor company to Lehman Brothers.

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In a statement, Zuckerman said: “As part of our succession planning process with the board, we have been focused on identifying the right person to take over as CEO of the company – a role I inherited in 2010 after my long-time business partner and Boston Properties co-founder Ed Linde passed away. I could not be more pleased that, after a very thorough process, Owen Thomas will become our new CEO. He is an accomplished executive and well known throughout our industry, and he is the right person to lead the company for the future and to build on our success. Boston Properties has tremendous momentum as we adhere to a disciplined strategy of focusing on high-quality, iconic assets in attractive markets. Together with Doug Linde, Ray Ritchey, and our other talented colleagues, Owen will build on that legacy and we look forward to his contributions.”