AVALONBAY COMMUNITIES, INC. announced that Benjamin W. Schall, the Company?s current President and a director, has been appointed to the additional role of Chief Executive Officer effective January 3, 2022, reporting directly to the Board. Concurrently, Timothy J. Naughton, the Company?s current Chairman of the Board and Chief Executive Officer, will retire as the Company?s Chief Executive Officer and assume the role of Executive Chairman of the Board. These appointments are consistent with the expectations previously announced by the Company in December 2020 as part of its leadership succession plan.