Boston Properties Names Douglas T. Linde president

May 14, 2007
BOSTON, May 14, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- Boston Properties, Inc. (NYSE: BXP), a real estate investment trust, announced today that Douglas T. Linde has been elected President. He will assume the title of President from Edward H. Linde, who will remain as Chief Executive Officer and a Director. In this new role, Mr. D. Linde will oversee the day-to-day execution of the Company's business plan. Mr. D. Linde will continue to serve as the Company's Chief Financial Officer and Treasurer until a successor is named. A search for his successor is currently underway.

The Company also announced the following:

  • An Office of the Chairman, led by Mortimer B. Zuckerman, will be formed and include Messrs. E. Linde, D. Linde, Raymond A. Ritchey and E. Mitchell Norville. This office will be responsible for formulating the strategic direction of the Company and for providing leadership and guidance as the Company initiates and carries out new projects.
  • Mr. Ritchey, who currently serves as Executive Vice President and National Director of Acquisitions and Development, will continue to lead the Company's new business and marketing activities.
  • Mr. Norville, who currently serves as Executive Vice President for Operations, will assume the new title of Executive Vice President, Chief Operating Officer to more appropriately reflect the scope and nature of his current responsibilities, which include day-to-day direction of the Company's operations and administrative policy.

Mr. D. Linde joined Boston Properties in January 1997 and played a key role in the Company's initial public offering in June 1997. From 1997 to 2000 he had primary responsibility for acquisitions, during which time the Company acquired 18.3 million square feet of high-quality office buildings, including the Prudential Center in Boston, Embarcadero Center in San Francisco, 280 Park Avenue in New York City and Metropolitan Square in Washington, D.C. He was named Chief Financial Officer and Treasurer in 2000 and was promoted to Executive Vice President in January 2005.

Mortimer B. Zuckerman, Chairman of the Board of Directors, said, "I am delighted to announce Doug's election as President. Since becoming the Chief Financial Officer in 2000, Doug has been involved in every aspect of our business and his leadership has been instrumental in achieving our success. Boston Properties is fortunate to have such a deep and talented management team to help drive our success, and Ed and I feel we have a superb foundation for the long-term success of the Company."

Douglas T. Linde said, "Mort and Ed have built one of the premier real estate companies in America over the past 37 years. As I assume this new position, I recognize how fortunate I have been to learn from their experience and knowledge during my 10-year tenure at the Company and how much I will benefit from their continuing involvement as we work to achieve even more for our shareholders. I am excited about our prospects and working with them, Ray Ritchey, Mitch Norville and the rest of the management team as we continue to move Boston Properties forward."

Boston Properties, Inc. is a fully integrated, self-administered and self- managed real estate investment trust that develops, redevelops, acquires, manages, operates and owns a diverse portfolio of Class A office properties and one hotel. The Company is one of the largest owners and developers of Class A office properties in the United States, concentrated in five select markets - Boston, Midtown Manhattan, Washington, D.C., San Francisco, and Princeton, N.J. For more information about Boston Properties, please visit the Company's web site at http://www.bostonproperties.com.

Kathleen DiChiara
Investor Relations Manager
Boston Properties, Inc.
+1-617-236-3343

Marilynn Meek
General Information of Financial Relations Board
+1-212-827-3773