Exhibit 99.1
TO BUSINESS AND REAL ESTATE EDITORS:
Chris Peacock Resigns as CEO of Jones Lang LaSalle
Stuart Scott Will Assume Interim CEO Role Until a Successor Is Named
CHICAGO, LONDON and SINGAPORE, Jan. 8 /PRNewswire-FirstCall/ -- The Board
of Directors of Jones Lang LaSalle Incorporated (NYSE: JLL) announced today
that it has accepted with regret the resignation of Christopher A. Peacock as
President and Chief Executive Officer. At Mr. Peacock's request, his
employment resignation takes effect immediately, and he has also retired from
the Board of Directors at this time. Stuart L. Scott, Chairman of the Board
of Jones Lang LaSalle, will assume the role of interim Chief Executive Officer
until a permanent replacement is named. Mr. Peacock's resignation is based on
his personal decision to spend more time with his family. Although total year
results are not yet complete, the firm is making no adjustment to its 2003
earnings guidance.
While the Board undertakes a global internal and external search to select
a new CEO, members of the firm's Global Executive Committee will report
directly to Mr. Scott and support him in his interim role. The Global
Executive Committee includes Peter Barge, Robert Orr and Peter Roberts, who
are the company's regional CEOs for Asia Pacific, Europe and the Americas,
respectively; Lynn Thurber, CEO of LaSalle Investment Management; and Lauralee
Martin, the company's Chief Financial Officer.
"On behalf of the Board of Directors, I would like to sincerely thank
Chris for his more than 30 years of committed service to the firm," said Mr.
Scott. "His dedication to superior client service has played a significant
role in establishing Jones Lang LaSalle as the leader in delivering
comprehensive real estate services across the globe. I am pleased that Chris
will serve the company on a consultative basis for the immediate future."
Mr. Scott continued, "We are beginning our search for a new CEO
immediately and, while we expect to move quickly, we will take whatever time
is required to select the best person to lead our company. I want to emphasize
that, during this time, we will not be distracted from our commitment to the
highest standards of client service, and to our employees and shareholders."
Mr. Scott served as Chairman and CEO of Jones Lang LaSalle from 1999 to
2002. He was CEO of LaSalle Partners from 1990 until the merger with Jones
Lang Wootton in 1999. Mr. Peacock held the position of Chief Operating
Officer of the firm from 1999 until January 2002, when he was named CEO.
Previously, he was the International CEO of Jones Lang Wootton.
Jones Lang LaSalle is the world's leading real estate services and
investment management firm, operating across more than 100 markets around the
globe. The company provides comprehensive integrated expertise, including
management services, implementation services and investment management
services on a local, regional and global level to owners, occupiers and
investors. Jones Lang LaSalle is also the industry leader in property and
corporate facility management services, with a portfolio of approximately
735 million square feet (68 million square meters) under management worldwide.
LaSalle Investment Management, the company's investment management business,
is one of the world's largest and most diverse real estate investment
management firms, with approximately $21 billion of assets under management.
For more information, visit www.joneslanglasalle.com .
SOURCE Jones Lang LaSalle Incorporated
-0- 01/08/2004
/CONTACT: Americas, Gayle Kantro, +1-312-228-2795,
gayle.kantro@am.joneslanglasalle.com , or Asia, Foo Chek Yee, +65-6539-9054,
chekyee.foo@ap.joneslanglasalle.com , or Australia, Anna Town,
+61-2-9220-8540, anna.town@ap.joneslanglasalle.com , or Europe, Charlotte
Freeman, +44-20-7399-5616, charlotte.freeman@eu.joneslanglasalle.com , all of
Jones Lang LaSalle/
/Web site: http://www.joneslanglasalle.com /
(JLL)
CO: Jones Lang LaSalle Incorporated
ST: Illinois, England
IN: FIN RLT
SU: PER