Corporate Office Properties Trust, a Columbia company that has profited by building office parks geared to the needs of defense and intelligence agency contractors, said Friday that its chief executive will retire in March.
Randall M. Griffin will be succeeded by Roger A. Waesche Jr., currently the president and chief operating officer of the real estate investment trust. The company named as its new chief operating officer Stephen E. Budorick, of real estate investment firm Callahan Capital Partners, and said he will join the company Sept. 29.
Griffin, Corporate Office Properties Trust's CEO since 2005, will remain on the board after he steps down as an executive.
Known as "Rand," Griffin was the company's president and chief operating officer from 1998 until 2005. Before that, he was president of Constellation Real Estate Group, which merged into Corporate Office Properties Trust in 1998.