Highwoods Properties Announces CFO Succession Plan

Mark Mulhern to Retire as CFO

Brendan Maiorana Appointed Successor

Transition Effective January 1, 2022

Further Strengthens Leadership Team

Sara Carlton Promoted to Vice President and Associate General Counsel

Ryan Hunt Promoted to Vice President and Chief Information Officer

RALEIGH, N.C., July 27, 2021 (GLOBE NEWSWIRE) -- Highwoods Properties, Inc. (NYSE:HIW) announced Mark Mulhern, 61, will retire as Chief Financial Officer effective January 1, 2022. Brendan Maiorana, 45, who currently serves as Executive Vice President of Finance and Treasurer, will assume the role of CFO upon Mr. Mulhern's retirement.

Ted Klinck, President and Chief Executive Officer, stated "Mark has been an exceptional contributor to Highwoods over the past decade, including his time as a member of our Board of Directors and the last seven years as our CFO. I know I speak on behalf of the entire Highwoods family when I say it has been our privilege to work alongside Mark as he finishes his long and successful professional career. His strong strategic thinking and people leadership skills will always be held in the highest regard here at Highwoods.

We are extremely fortunate to have Brendan become our new CFO. Brendan has already been a key member of our senior leadership team, partnering with Mark in the disciplined and conservative stewardship of our solid balance sheet, accounting practices and financial systems. We expect a seamless transition."

Mr. Maiorana became Executive Vice President of Finance in July 2019 and assumed the role of Treasurer in January 2021. Prior to that, he was our Senior Vice President of Finance and Investor Relations since May 2016. Prior to joining Highwoods, Mr. Maiorana spent 11 years in equity research at Wells Fargo Securities, starting as an associate equity research analyst. Prior to that, he worked four years at Ernst & Young LLP.

Highwoods also announced Sara Carlton, 45, has been promoted to Vice President and Associate General Counsel and Ryan Hunt, 44, has been promoted to Vice President and Chief Information Officer.

Ms. Carlton joined Highwoods in 2007. Prior to joining Highwoods, she specialized in commercial real estate while in private practice at a law firm in Raleigh. At Highwoods, Ms. Carlton provides legal support to leasing and operations and leads our government leasing activities across all markets. She also works with the Company's joint venture partners, development team and corporate financing team and leads the Company's diversity and inclusion initiative. Ms. Carlton is a graduate of James Madison University with a BA in history and earned her law degree at Wake Forest University.

Mr. Hunt is responsible for the Company's information technology strategy and aligning technology investments with the overall business. Mr. Hunt joined Highwoods in 1997 and quickly transitioned his focus to technology. He began his technology career on the IT Help Desk, served in various other roles within the Technology Department, and most recently served in the role of Senior Director of Application Development. While working at Highwoods, Mr. Hunt earned his BS in Management Information Systems from NC State University.

About Highwoods

Highwoods Properties, Inc., headquartered in Raleigh, is a publicly-traded (NYSE:HIW) real estate investment trust ("REIT") and a member of the S&P MidCap 400 Index. The Company is a fully-integrated office REIT that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Charlotte, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa.  For more information about Highwoods, please visit our website at www.highwoods.com.