Market Overview

Equity Residential Announces Year End Retirement of CEO, David J. Neithercut


Mark J. Parrell Appointed President and

Robert A. Garechana Appointed CFO

Equity Residential (NYSE:EQR) today announced key executive management
changes as part of its succession planning program.

David J. Neithercut, 62, the Company's President and Chief Executive
Officer (CEO) since 2006, will retire as CEO on December 31, 2018, at
which time Mark J. Parrell will be appointed CEO and join the Company's
Board of Trustees. Mr. Neithercut will remain a member of the Board
following his retirement.

Mr. Parrell, 52, has been appointed President effective today. He has
served as the Company's Executive Vice President and Chief Financial
Officer (CFO) since 2007. From 2005 to 2007, Mr. Parrell served as the
Company's Senior Vice President and Treasurer and has held various roles
in the Company's finance group since 1999.

Robert A. (Bob) Garechana, 39, has been appointed Executive Vice
President and CFO effective today. Mr. Garechana currently serves as
Senior Vice President and Treasurer of the Company, has served as
Treasurer since 2008, and held various other finance roles since joining
the Company in 2004.

"I have been honored to serve as a member of Equity Residential's
executive leadership since 1993 and am extremely grateful for the
support of our investors, employees and Board over the last 25 years,"
said Mr. Neithercut. "I have worked closely with Mark during much of
this time and will transition leadership of the Company to him with
great confidence. He is a strategic thinker, proven leader and respected
colleague who, together with the Company's talented senior management
team, will work diligently to deliver continued success."

"On behalf of our Board of Trustees, I thank David for his many
contributions to the Company and congratulate him on the great success
that Equity Residential has produced over his tenure," said Sam Zell,
Equity Residential's Founder and Chairman. "We are pleased that after
stepping down he will continue to serve the Company as a member of our

"Of a Board's many responsibilities, the constant identification and
development of executive talent are among the most important," Mr. Zell
continued. "Mark and Bob's promotions are a direct result of the
priority placed by our Board on succession planning and are the most
recent examples of a very successful and rigorous process that has
served the Company and its shareholders well. We congratulate them both
and look forward to working with them as they and the rest of the team
take the Company forward."

About Equity Residential

Equity Residential is an S&P 500 company focused on the acquisition,
development and management of rental apartment properties in urban and
high-density suburban coastal gateway markets where today's renters want
to live, work and play. Equity Residential owns or has investments in
306 properties consisting of 79,412 apartment units, primarily located
in Boston, New York, Washington, D.C., Seattle, San Francisco and
Southern California. For more information on Equity Residential, please
visit our website at

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