Kilroy Realty, one of the largest office owners on the West Coast, has announced that Chief Executive Officer John Kilroy Jr. will retire at the end of 2023. Kilroy, who became CEO in 1991, oversees a company that has a portfolio of 16 million square feet of primarily office and life-science space on the West Coast and Texas.

Kilroy’s legacy began in 1981 when he took over day-to-day operations from his father, John “Jim” Kilroy Sr., who started the business in 1947. “After almost 30 years as CEO of Kilroy and 50 years in this business, I have decided to retire at the end of this year,” said Kilroy. 

“I am confident that Kilroy is positioned for future success and that now is the right time to begin a transition to new leadership. I will work with the Board on the search for my successor, and we will remain committed to our strategy, focusing on three core tenets — best-in-class real estate, disciplined capital allocation and a fortress balance sheet — to deliver value for our stockholders.”