First Industrial Realty Trust CEO Duncan to retire, become chairman

• First Industrial Realty Trust (NYSE:FR -2.9%) CEO Bruce Duncan will retire from that post by the end of the year, and the company has appointed him chairman of the board.
• The previous non-executive chairman, Ed Tyler, will continue to serve as a director. John Rau has been named lead independent director.
• Duncan has led the company's management since January 2009.
• The board will look at internal and external candidates to find a replacement CEO this year, and has engaged Korn Ferry as advisers in the process.