First Industrial Realty Trust Inc. on January 20, 2016, announced that Bruce W. Duncan plans to retire as the company's president and chief executive officer by year-end 2016 as part of an orderly leadership transition. On June 9, 2016, Mr. Duncan formally notified the company that he has elected not to renew his employment agreement for an additional one-year term, which will result in the termination of his employment agreement with the company and the end of his tenure as the company's President and Chief Executive Officer, effective as of December 31, 2016. As previously announced, Mr. Duncan was appointed Chairman of the company's Board of Directors effective as of January 20, 2016.

Mr. Duncan's decision to retire as the company's President and Chief Executive Officer is not intended to impact his service as a director or as Chairman of the company's Board of Directors.