Strategic Hotels & Resorts, a real estate investment trust (REIT), has appointed Diane Morefield as executive vice president and chief financial officer (CFO). Morefield succeeds James Mead and will assume her new responsibilities on 12 April 2010. Until then, Stephen Briggs, senior vice president and chief accounting officer (CAO), will assume the responsibilities of the office on an interim basis.
Morefield has both public and private company experience as a senior financial executive. She served as CFO of Equity International (EI), a privately held investment company focused exclusively on real estate-related businesses operating outside of the US until June 2009. During this time, Morefield was responsible for financial reporting, investor relations, portfolio management, treasury and was actively involved in significant capital raising.
Prior to her work at EI, Morefield served as CFO of Joseph Freed & Associates, a family owned privately held real estate development company specialising in retail, residential and mixed-use developments. She was responsible for accounting, finance, treasury, information technology and human resources for the firm with approximately 150 employees and over US$3bn in real estate assets in operation or under development.
From 1997 to 2006, Morefield was employed by Equity Office Properties Trust, the largest publicly traded office REIT and owner of office buildings in the US with revenues of approximately US$3.3bn and a total capitalisation of approximately US$30bn. She most recently served as a senior vice president for the company’s Midwest region where she was responsible for the overall business strategy, financial performance, operations, management and leasing activity for the region with total revenues of over US$450m, a portfolio size of 19.5 million square feet and 300 employees. In addition, Morefield previously held the position of senior vice president of investor and public relations where she was responsible for relations with Wall Street analysts, institutional investors and other shareholders.
Morefield received a MBA from The University of Chicago and a BSc in Accountancy from The University of Illinois. She is a certified public accountant (CPA).
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