First Industrial Realty Trust Inc. announced that President and Chief Executive Officer Bruce W. Duncan plans to retire by year-end 2016 as part of an orderly leadership transition. The board of directors will conduct a process to choose Mr. Duncan's successor and will consider internal and external candidates for the position. The Company has engaged Korn Ferry, a global people and organizational advisory firm, to assist in this process.

The company also announced that Mr. Duncan has been appointed chairman of the board. Previous non-executive chairman Ed Tyler will continue to serve as a member of the board. The independent directors of the board appointed John Rau, the chair of the nominating and governance committee of the board, to the position of lead independent director.

Rau is currently President and CEO of Miami Corporation.