EdR (NYSE:EDR), a leader in the ownership, development and management of quality collegiate housing, today announced that executive vice president and chief financial officer Randall H. Brown has resigned effective June 30, 2014 in order to pursue other business opportunities. The financial affairs of the Company will be managed by the existing executive management team until a successor CFO is appointed.<br /><br />Randy joined EdR's predecessor in June 1999 as chief financial officer and treasurer and was later promoted to executive vice president. He will continue to direct EdR's finance activities as CFO until his departure date.<br /><br />"Randy helped marshal the Company through its initial public offering and has been a steady hand throughout his tenure with the Company," said Randy Churchey, president and chief executive officer. "As CFO, he has helped keep the Company in growth mode by pursuing flexible financing sources while maintaining acceptable leverage ratios. Randy has been a real asset to EdR and has been a key contributor in the Company's ongoing success. We wish him the best in the next chapter of his career."<br /><br />Mr. Brown added, "I have had a terrific and rewarding experience at EdR, but after 15 years I'm looking forward to exploring some new opportunities. I'm confident that under Randy's leadership, and with the talented team at EdR, the Company will continue to prosper in the years ahead."<br /><br />The Company has engaged Spencer Stuart, an executive search consulting firm, to evaluate internal and external candidates for its new chief financial officer. The Company will conduct a thorough and prudent search and announce a successor once a qualified candidate is identified.<br /><br />About EdR<br /><br />EdR (NYSE:EDR) is one of America's largest owners, developers and managers of collegiate housing. EdR is a self-administered and self-managed real estate investment trust that owns or manages 69 communities with over 38,000 beds that serve 57 universities in 23 states.