AvalonBay Communities Inc. director Ronald Havner Jr. offered to resign after failing to receive a majority vote for his re-election at the company's annual shareholder meeting May 18, 2017. Havner is chairman and CEO of self-storage real estate investment trust Public Storage. He has been a director of AvalonBay since 2014, and he also serves on the boards of REIT PS Business Parks Inc. and California Resources Corp. The company's board and its nominating and corporate governance committee will review whether to accept Havner's proposed resignation, and the board will announce its decision no later than August 16, 2017.