NNN REIT Appoints Edward Fritsch as Chair; Steven Cosler Retires

Boardroom Shift in Orlando

Leadership Pivot at NNN REIT

ORLANDO, Fla., Feb 19 (Reuters) - NNN REIT, Inc. announces that Steven D. Cosler retires from the board effective Feb. 18, 2026, and that independent director Edward J. Fritsch is appointed to succeed him as chair. Cosler has served on the board since August 2016 and as chair since May 2021, and the company frames the move as a planned leadership transition rather than a change in strategy.

Chief Executive Officer Steve Horn says the board thanks Cosler for steady leadership through a period of market disruption and expresses readiness to work with Fritsch to continue executing NNN’s long‑term strategy. The company emphasizes continuity, noting the new chair’s long tenure on the board and the board’s intention to maintain focus on net‑lease investments that require minimal ongoing capital expenditures.

The board names Fritsch chair immediately upon Cosler’s retirement, positioning a director with deep REIT sector experience at the helm as NNN pursues its stated objectives. Company materials highlight that the board expects a collaborative relationship between the new chair and management to reinforce governance and strategic execution across the REIT’s portfolio.

Company footprint and performance

NNN REIT describes itself as an investor in high‑quality properties subject to long‑term net leases and reports owning 3,692 properties across all 50 states, the District of Columbia and Puerto Rico as of Dec. 31, 2025. The portfolio comprises about 39.6 million square feet of gross leasable area with a weighted average remaining lease term of 10.2 years, figures the company uses to underline portfolio stability and predictable cash flow characteristics.

Chair’s industry credentials

Edward J. Fritsch has served on NNN’s board since February 2012 and brings prior executive experience as president and chief executive officer of Highwoods Properties, Inc., retiring in 2019. He is a former member of the Nareit Board of Governors, served as Nareit national chair for 2015–2016, and received Nareit’s Industry Leadership Award in 2023, credentials that the company cites in announcing the succession.