BRE's Prez/CEO to Retire

BRE Properties Inc., San Francisco, has announced the adoption of a phased, one-year executive succession plan under which Frank C. McDowell, BRE's president and chief executive officer, will retire on Jan. 1, 2005.Constance B. Moore, BRE's executive vice president and chief operating officer, will succeed Mr. McDowell, who will serve as an executive consultant to the company and its board of directors after his retirement, which begins the second phase of the plan. In the first phase, effective Jan. 1, 2004, Mr. McDowell will assume the role of vice chairman and chief executive officer and Ms. Moore will become president and COO, assuming day-to-day operating responsibility, the company said. BRE, a real estate investment trust, can be found online at http://www.breproperties.com.