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Founder, chairman of Kilroy Realty retires

LOS ANGELES (AP) -- Kilroy Realty Corp. said that founder and Chairman John B. Kilroy Sr. retired on Thursday and the board elected his son, John Kilroy Jr., to replace him.

The senior Kilroy, 90, founded companies in 1947 that eventually became Kilroy Realty. He has been chairman of the real estate investment trust since it began selling shares to the public in 1997.

In 1981, Kilroy turned over daily leadership of the company to his son. The younger Kilroy, 64, is CEO and president of the Los Angeles company.

The company develops and manages office real estate on the West Coast, mainly in Southern California, the San Francisco Bay Area and Seattle.