Ernest S. Rady

Executive Chairman

Mr. Rady has served as Executive Chairman of our Board of Directors since January 2025. Previously, Mr. Rady served as Chairman and Chief Executive Officer from September 2015 to December 2024. From our initial public offering in January 2011 to September 2015, Mr. Rady served as Chairman of our Board of Directors. Mr. Rady has over 40 years of experience in real estate management and development. Mr. Rady founded American Assets, Inc. in 1967 and currently serves as president and chairman of the board of directors of American Assets, Inc. In 1971, he also founded Insurance Company of the West and Westcorp, a financial services holding company. From 1973 until 2006, Mr. Rady served as chairman and chief executive officer of Westcorp. He served as chairman of Western Financial Bank from 1982 until 2006 and chief executive officer of Western Financial from 1994 until 1996 and from 1998 until 2006. He also served as a director of WFS Financial Inc., an automobile finance company, from 1988 until 2006 and as chairman from 1995 until 2006. From 2006 until 2007, Mr. Rady served as chairman of dealer finance business and California banking business for Wachovia Corporation, and also served as a director from 2006 until 2008. Mr. Rady currently serves as chairman of the board of directors of Insurance Company of the West and chairman of the Dean's Advisory Council at the UC San Diego Rady School of Management. Mr. Rady received his degrees in commerce and law from the University of Manitoba.

Dr. Sullivan has served as a member of our Board of Directors since the completion of our initial public offering in January 2011. From 2003 to 2020, Dr. Sullivan served as founding dean of the Rady School of Management at University of California, San Diego. From 1997 until 2002, he was dean of Kenan-Flagler Business School at University of North Carolina, Chapel Hill. From 1976 until 1997, Dr. Sullivan served in a variety of senior positions at the University of Texas and Carnegie Mellon University. From 2004 to 2017, Dr. Sullivan served on the board of directors of Cubic Corporation. From 1991 until 2006, Dr. Sullivan served as a director of Stewart and Stevenson Services, Inc. Dr. Sullivan received his Doctor of Philosophy degree from Pennsylvania State University. He received his Master of Business Administration degree from Cornell University and his Bachelor of Arts degree in mathematics from Boston College. Dr. Sullivan is the chairperson of our Board's Compensation Committee and a member of our Board's Nominating and Corporate Governance Committee.

Mr. Olinger has served as a member of our Board since the completion of our IPO in January 2011. From May 2012 until April 2022, Mr. Olinger served as chief financial officer of Prologis, Inc., a global operator and developer of logistics real estate. From June 2011 to May 2012, Mr. Olinger served as chief integration officer of Prologis, Inc. From 2007 to June 2011, Mr. Olinger served as chief financial officer of AMB Property Corporation, a global operator and developer of logistics real estate, which was merged with and into Prologis, Inc. in June 2011. From 2002 until 2007, Mr. Olinger served as vice president and corporate controller of Oracle Corporation, a computer hardware and software company. Mr. Olinger began his professional career in 1988 with Arthur Andersen LLP as an auditor and Mr. Olinger became a partner in 1999, during which time Mr. Olinger served various REITs and software companies. Since January 2023, Mr. Olinger has served on the board of directors of Equinix, Inc., a publicly traded global data center and colocation provider for enterprise network and cloud computing. Since 2021, Mr. Olinger has served on the advisory board of the University of Notre Dame’s Fitzgerald Institute of Real Estate and on the Dean’s Council of Indiana University’s Kelley School of Business. Since 2023, Mr. Olinger has also served on the policy advisory board of the University of San Diego's Burnham-Moores Center for Real Estate. Mr. Olinger received his Bachelor of Science degree in finance from Indiana University. Our Board determined that Mr. Olinger should serve as a director based on his wealth of experience in the real estate industry, as well as his financial background. Mr. Olinger is the Chairperson of our Audit Committee and is a member of our Compensation Committee.