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MPG Office Trust chief Nelson Rising resigns

November 11, 2010 |  1:55 pm

MPG Office Trust Inc. Chief Executive Nelson C. Rising resigned Thursday in a surprise change of leadership at the Los Angeles real estate company.

Rising The real estate trust formerly known as Maguire Properties Inc. said it had accepted Rising’s resignation, which will take effect Monday.

 “I believe the board of directors and I do not share a common vision for the strategic direction of the company and a capital structure necessary to achieve it,” his resignation letter said.

Chairman Paul M. Watson will serve as interim CEO until a new leader is named, the company said. Watson is the retired vice chairman of Wells Fargo Bank.

MPG is the largest landlord of upscale office space in downtown Los Angeles and also owns properties in Orange and San Diego counties.  Among its largest holdings are US Bank Tower in downtown L.A., the tallest building in the West.

-- Roger Vincent

Photo:  Nelson Rising. Credit:  Los Angeles Times